Nyetimber, the renowned English sparkling wine producer, has finalized its acquisition of The Lakes Distillery, resulting in significant changes within the leadership of The Lakes. Following the acquisition, The Lakes’ directors have resigned, and Nyetimber CEO Eric Heerema and managing director Hans Sleeuwenhoek have assumed directorial roles.
The acquisition values The Lakes Distillery at approximately £46.1 million (US$58 million). Nyetimber expressed confidence in The Lakes’ potential to expand its presence in the UK single malt whisky market and to achieve global growth.
James Pennefather, former CEO of The Lakes Distillery, previously outlined a strategic plan aiming for a 1% share of the global luxury dark spirits market by 2030, necessitating an additional £10 million (US$12.5 million) investment over three years. Pennefather welcomed Nyetimber’s acquisition as providing the necessary strategic alignment and funding certainty to pursue these ambitious goals.
For Nyetimber, the acquisition represents a significant milestone in its strategy to establish a globally influential English luxury drinks group. CEO Eric Heerema emphasized the acquisition as an opportunity to enhance capabilities, foster new growth initiatives, and support The Lakes in realizing its aspirations as a distinguished global spirits brand.
Founded in 2011 and operational since December 2014, The Lakes Distillery is situated near the Lake District National Park, encompassing facilities such as a distillery, visitor center, shop, and bistro. The acquisition marks a pivotal moment for both Nyetimber and The Lakes Distillery, signaling ambitions for expansion and prominence in the luxury drinks sector.
