Craft rum maker Salford Rum broke a £250k crowdfunding target within an hour over the weekend as it plans an ambitious expansion across the UK.
Co-founder Tommy Gaughan attributed the enthusiasm to the brand’s “cult following” and “established national footprint”.
The rum is listed in Morrisons, Waitrose, and Co-op, with the business valued at £2.7m.
It said it doubled sales to £1.25m last year while posting a profit.
Its crowdfund passed £300k this morning and will be used to boost production at its home in Salford Docks.
”We’ve grown Salford Rum to where it is today without significant investment and could not be prouder,” said Gaughan. “We’re raising investment for the very first time to fuel growth even more and to see it go through the roof has been incredible.”
The business was started by Gaughan and schoolfriend James Harrison in 2018, taking inspiration from the then booming gin category. In response, the pair set out to make a premium rum that could rival luxury gins on the market.
They started the business with £5k, first creating a spiced rum that sought to celebrate the history, heritage and people of the local docks throughout the late 1800s and early 1900s.
At the time, Salford was the third-largest port in the UK, bringing in rum, fruits, and spices from the Caribbean for the first time.
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