Business

Belfast-based Drinksology Kirker Greer to accelerate growth after securing £6.5m funding package

Support includes combination of equity investment, debt provision and expert consultancy

L-R: Paul Millar, CEO of Whiterock Capital with co-founders of the DKG Group, Richard Ryan and Steven Pattison.
L-R: Paul Millar, CEO of Whiterock Capital with co-founders of the DKG Group, Richard Ryan and Steven Pattison. (Kelvin Boyes)
By Ryan McAleer

BELFAST-based drinks firm and creative agency Drinksology Kirker Greer (DKG) has secured a funding package worth £6.5 million as part of plans to significantly grow its operation.

Founded by Steven Pattison and Richard Ryan in 2009, DKG now employs 49 people across its three core business units.

Alongside its design and innovation studio Drinksology Creative, which has designed some of the world’s best known distilleries and pubs, the group manages its own growing portfolio of premium brands as Kirker Greer Spirits.

DKG also operate Spiritly.com, a premium direct-to-consumer and business-to-business ecommerce platform.

The £6.5 million package includes a combination of equity investment from Whiterock’s recently launched Growth Capital Fund, debt provision, and expert consultancy.

It follows an 18-month period where DKG Group has made substantial investments in both people and brands, with Kirker Greer Spirits’ portfolio expanding its geographic reach.

The portfolio includes Jawbox Gin and Kirker Shamrock Irish whiskey, Ukiyo Japanese Gin, Kadoo rum and Born Irish Black Whiskey.

The company recent launched an advertising campaign for Ukiyo Spirits in the London Underground.

It also invested in ‘experiential marketing activations’, for Born Irish Whiskey, formerly known as ‘Black Irish’, which was rebranded following a legal battle with Mariah Carey.

DKG said it is also preparing Spiritly.com for European and American expansion.

“We believe our business and brands have a bright future,” said Steven Pattison.

“Over the last 24 months, we have been strategically adding to our team, building out our long-term plans, and steadily moving into our next phase of execution.

“We are comfortable investing ahead of the curve, and this funding package provides us the firepower to keep doing so.

“It will allow us to leverage our strengths and continue making strategic investments that ensure our growth and success on the global stage.”

Managed by Whiterock, the £75m Growth Capital Fund includes £45m supplied by the British Business Bank, with the remaining 40% (£30m) coming from private investors, including several local family offices and high net worth individuals.

Whiterock chief executive, Paul Millar, said: “The combination of DKG’s track record, the unique dual-market access Northern Ireland provides to both the UK and EU, and their ambitious growth plans made this a very attractive first investment for the Growth Capital Fund.

“The deal will be the first in a series of investments that we expect to be able to announce over the coming months.”