A Warwickshire cidery has raised £190k in its latest crowdfunding campaign, with just one week left for potential investors to sign up. Napton Cidery launched its second investment round in December as part of the continued growth of the award-winning business which has secured major new contracts.
Owners Jolyon and Charlotte Olivier’s plans also include extending the production facilities and taproom.
Since their first funding round in January last year, the business has enjoyed 97% year on year growth, expanding the ciders into more than 50 pubs and restaurants as well as securing new contracts with Ocado, Spar and Co-op Midlands stores.
Jolyon said: “We are delighted to be coming to the end of our investment campaign which has been a great experience from start to finish. One of the most enjoyable parts of this process is meeting new investors. They come from all walks of life being businessmen, loyal customers, friends and family. They all share a great interest in not only our product but our vision of spreading our naturally made cider around the UK and beyond.”
Over the next 18 months Napton will also be bringing the remainder of their signature ciders onto draught as well as extending the popular taproom following sell-out success of their live comedy, music and tasting events. Latest events lined up for the spring, including a Mother’s Day Afternoon Tea Tasting and their first wine tasting. Details can be found here
A new purpose-built warehouse will enable the cidery to increase production capacity and upgrade to digital laboratory equipment as well as further increase their sustainability credentials by investing in steel tanks.
Jolyon added: “The investment campaign was launched to secure funds for working capital and secure future growth of the company. We have grown beyond our target this year and with many new contracts on the horizon we are securing our place as the leading craft cider producer in the Midlands.”
“We are looking to extend the size of the taproom which will be great for our already sold-out events. The new equipment will also have a great impact on our visitors giving them a much better experience for tours. We also have plans for new product which we can’t wait to share with everyone.”
The couple were first introduced to the taste of craft cider on a family holiday to Cornwall nine years ago. Returning home with an apple tree, they soon started experimenting in their back garden.
Today, the team, in Napton on the Hill, harvests, presses, bottles and distributes more than 100,000 litres of craft cider a year, using 17 types of apples from six orchards across the Herefordshire region.
They also produce limited-edition ciders and perry as well as juices, spirits and vinegars.
The campaign closes on February 28th so anyone still interested in investing, can find out more here on the investment webpage. Share purchases from £1,000 upwards are available, with the aim of seeing a return within three to five years.
Jolyon said: “The company is fortunate to be part-owned by an amazing group of shareholders who believe in our company values and our vision. As opposed to earlier in the year when we launched a round of funding to help us recover from the effects of the pandemic, this round is more to do with generating enough capital to continue the growth.”
“Over the next five to ten years we’d like to increase our cider production tenfold, to manufacturing and selling one million litres nationally.”