Pernod Ricard’s venture capital fund, Convivialité Ventures, has taken a minority share in circular economy startup Ecospirits. Pernod Ricard joined a $10 million Series A funding of Ecospirits, along with New York-based circular economy investment fund, Closed Loop Partners, and several Asian and global investors. The tech startup is focused on low carbon, low waste distribution systems for the wine and spirits industry. In March…

Proximo-owned Irish whiskey brand Bushmills has added a second facility to the site of the Old Bushmills Distillery. The £37 million Causeway Distillery, so-called because of the distillery’s proximity to the Giant’s Causeway in Northern Ireland, is part of Proximo’s £60 million investment at the site over the past five years. The investment, in Irish single malt distilling and ageing, includes additional warehousing and infrastructure,…

Beer wholesale distribution business Jolly Good Beer (JGB) is set to be bought out by chilled logistics operators Fardel Shipping and Hedges Chilled Distribution. JBG, which is based in Norfolk, announced yesterday that it had secured investment from the logistics companies, and JGB founder Yvan Seth confirmed to Drinks Retailing that the investment is “the first stage in a process that results in full acquisition…

Naked Wines has indicated it is on the road to recovery after issuing improved profit guidance on the back of what it called a “solid” Christmas trading period. The company issued a profit warning last June that saw its share price tumble, and later outlined a shift in strategy, from rapid growth through the acquisition of new customers to better profitability from repeat ones accompanied…

Westons Cider is to invest £2 million in its fruit pressing capacity as it looks to use technology to reduce energy consumption. The investment, which is part of its plan to reduce its carbon footprint, will see two presses installed at its Herefordshire mill. “Running entirely off renewable energy sources, and 20% more efficient than the current on-site presses, the new technology represents a significant…

English rye whisky specialist The Oxford Artisan Distillery (TOAD) has announced that Diageo has made a minority investment in the company through independent drinks accelerator fund Distill Ventures. The investment will support the next stage of the company’s growth, TOAD said, by enabling the upgrade and expansion of its production sites, and the continued development of the brand and its consumer experiences. The distillery’s first…

The Federation of Independent Retailers has hailed a cash boost for Circularity Scotland, the body responsible for running the Deposit Return Scheme (DRS). The Federation said today that the Scottish Investment Bank has invested £9 million into Circularity Scotland, alongside an additional £9 million from Bank of Scotland. “This investment is a show of confidence in and support for all the work being done to…