Manchester-based Didsbury Gin, an exciting craft gin brand, has agreed a new invoice finance deal with Aldermore, the specialist bank.
Founded by Liam Manton and Mark Smallwood, the company is looking to capitalise on their recent momentum. Described by Vogue as ‘one of the most exciting new British gins’, the business plans to upscale and continue growing.
From humble beginnings in a home-based distillery and juggling full-time jobs, Liam and Mark’s ambition to create a bright, vibrant and zesty gin they’d enjoy drinking has been a huge success. Now produced at an award-winning distillery in Leicestershire, Aldermore is providing the finance solution to match.
Last year, 73 million bottles of gin were bought in the UK; a revival dubbed the ‘ginaissance’, and with no signs of demand for the juniper-berry flavoured drink slowing, Didsbury Gin is primed to cash-in on the £2.1 billion record-sales generated in 2018.
Liam Manton and Mark Smallwood, Co-Founders of Didsbury Gin, said: “Winning big orders from customers is fantastic, but it has cash flow implications. Some customers, especially large ones, expect credit of 60 days or more, and an order might be worth many thousands of pounds. During this time, you must pay to produce your stock, and your suppliers might only give you 30 days’ credit.
“We immediately knew that Aldermore understood our cash flow challenge. We have big plans for the future, and access to invoice finance means we’re not worried about whether we can afford to upscale our business. It has been brilliant for us.”
Tariq Bourdouane, Business Development Manager at Aldermore, said: “We have worked closely with Didsbury Gin to understand their business challenges and needs. Liam and Mark are full of passion and energy – and that’s infectious. They hadn’t used invoice finance previously, so we were there to aid their understanding and ensure everything went smoothly. We always work hard to make sure our customers have the finance and support they need to achieve their ambitions.”
For further information, journalists can contact:
Carmel McCarthy, Aldermore
Phone: 020 3553 4216
Mobile: 07464 644754
Notes to Editors:
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