Founded in 2022 by Richard Ryan and Steven Pattison, Drinksology Kirker Greer (DKG) Group, a Belfast-based startup specialising in spirits and hospitality design, has secured a €7.7 million funding package from Whiterock’s Growth Capital Fund to accelerate its global growth.
The investment includes a combination of equity funding, debt provision, and expert consultancy, all designed to support the continued development of DKG’s three core business units: Drinksology Creative, Kirker Greer Spirits, and Spiritly.com.
Co-Founder of the DKG Group, Steven Pattison, said: “We believe our business and brands have a bright future. 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.“
Over the past 18 months, DKG has made significant investments in both its workforce and brand portfolio. Its team has grown from 35 to 49 employees, with all three business units experiencing growth. In particular, the Kirker Greer Spirits portfolio has expanded its geographic reach, while Spiritly.com, DKG’s direct-to-consumer e-commerce platform, is preparing to launch across Europe and the US.
DKG’s expansion efforts are also underscored by its commitment to sustainable business practices, with all its companies and brands recently achieving B Corp certification.
The €7.7 million funding is the first investment made by Whiterock’s recently launched €89 million Growth Capital Fund, which focuses on backing companies in Northern Ireland and the rest of the UK that demonstrate strong sales growth and clear routes to market.
Paul Millar, CEO of Whiterock Capital, said: “We are excited to invest in the DKG Group, a business led by exceptional and visionary entrepreneurs. The company’s world-class executive team and staff have proven their ability to deliver and the trust they have garnered from some of the biggest brands globally is a testament to their expertise. 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.“
Read the orginal article: https://www.eu-startups.com/2024/11/belfast-based-drinksology-kirker-greer-secures-e7-7-million-funding-from-whiterock-for-global-growth/
