North Cornwall-based drinks brand, Pentire Drinks, has secured a £500k equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF) as part of a £3 million funding round.
The CIOSIF investment, along with match-funding from private investors, will be used to grow the team by creating ten new positions over the next three years along with expanding multiple areas of the business.
Pentire is a direct-to-consumer led, omni-channel business with its non-alcoholic botanical spirits championed by chefs across Cornwall and the UK, including Rick Stein, Nathan Outlaw, Paul Ainsworth and Emily Scott. The company’s products can also be found in Selfridges, Fortnum & Mason, Fenwick, The Pig Hotels, Soho House Group, Daylesford and Planet Organic.
The business has created Pentire Seward and Pentire Adrift, which are made by distilling plants native to the local coastline. Pentire is also a certified B-Corp business and donates proceeds to the Blue Marine Foundation.
The no and low alcohol sectors are continuing to grow as consumers are focusing more on prioritising their health and looking to moderate alcohol consumption. Pentire’s roots in active outdoor coastal living and sustainability are well positioned for this movement.
Co-founder, Alistair Frost, said: “The non-alcoholic spirits sector is thriving and Pentire is growing along with it. We’re well on the way to becoming an easily recognisable brand and this funding will enable us to continue this rate of growth and put Pentire firmly in the drinks cabinets of people across the globe.”
John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, added: “Pentire is another environmentally-focused Cornish business that has put sustainability at its heart. They have produced a drinks range that quite literally distils the essence of Cornwall into healthy premium products that have found their niche in the growing non-alcoholic segment.”