Asterley Bros launches crowdfunding drive

London-based spirits producer Asterley Bros is hoping to raise £100,000 (US$122,000) through crowdfunding to increase production capacity at the same time as hiring bartender Joe Schofield to create a new range of “everyday” vermouths.

Asterley Bros, which produces amaro and vermouth, has launched a Crowdcube campaign for the development of new products, and to support sales and marketing.

Asterley Bros was founded in 2014 by brothers Rob and Jim Berry. In 2017, the producer launched its Dispense Amaro, and has since extended its portfolio with Estate Vermouth and Britannica Fernet.

The producer is valued at £1 million (US$1.2m) and its products are currently available in the UK, Hong Kong and Singapore.

As part of the firm’s five-year plan, Asterley Bros aims to expand into 20 export markets including China, Spain and the US. It also predicts total 750,000 unit sales and £12m (US$14m) total sales revenues over that period.

The global vermouth market is estimated to exceed £14bn (US$17bn) by 2021, according to the Global Vermouth Market 2018-2022 report, cited by Asterley Bros.

“We have been overwhelmed by the level of interest in our handmade amaro, vermouth and fernet over the last few years,” said Rob Berry.

“The apéritif category is undergoing a renaissance, fuelled by the UK consumers’ desires for all things Negroni and Spritz, so this is [the] perfect time for us to expand our production and offering.”

To push brand development and growth, Asterley Bros has hired English bartender Joe Schofield as its creative director.

In October 2019, Asterley Bros will launch its fourth product, Schofield’s Dry Vermouth. The expression is made using a base of wines and grape spirit, along with 28 botanicals.

Schofield will help to create new products for Asterley Bros, including a new range of “approachable” vermouths. The firm will also move into the ready-to-drink category with a series of canned vermouth-based cocktails.

Schofield added: “I have been a great fan of the Asterley Bros brand since they launched their Dispense Amaro in 2017, and I have always enjoyed utilising their handcrafted liquids in cocktails and other mixed drinks.

“Breathing new life into the category, they are making exceptional products that are popular with bartenders and consumers alike.

“This is a particularly exciting time for the flourishing category and I’m delighted to join the team as creative director to be part of the next stage of the brand’s growth.”

The Crowdcube campaign will be open for 30 days from 9 September to 8 October.

Business, Entrepreneur, Estate, Family, Next Generation, Startup, Succession, Wealth