The corporate team at Penningtons Manches Cooper has advised finnCap (AQSE Corporate Adviser and joint broker) and Stanford Capital (joint broker) on The British Honey Company plc’s recent £6.23 million fundraising, comprising £4.54 million of new ordinary shares and £1.63 million pursuant to an unsecured convertible loan facility, in connection with British Honey’s acquisition of Union Distillers Limited.
The proceeds of the fundraising have been used in part to satisfy the £5 million cash consideration element of the acquisition, with the remainder being used for working capital purposes and to further strengthen British Honey’s balance sheet.
Launched in 2014, British Honey has an extensive collection of award-winning spirits brands crafted at its onsite distillery in Buckinghamshire. Its impressive range began with Keepr's British Honey Spirits infused with 100% pure honey from its own fully traceable apiaries and includes gin, rum, bourbon, vodka and a ready to drink selection of hard seltzers and a low alcohol gin and tonic.
London-based corporate partner, Seb Orton, led on the deal, with assistance from associates Hannah Shamsolmaali and Laurence Nelson.