home Latest News Cask investment firm revenue tops €10m in 2019 – The Spirits Business

Cask investment firm revenue tops €10m in 2019 – The Spirits Business

This post was originally published on this site

15th January, 2020 by Melita Kiely

Cask investment company Whiskey and Wealth Club experienced its “most successful” year to date after revenue reached €10 million (US$11.1m) in 2019.

Whisky-Cask-Company

Whiskey and Wealth Club reported turnover of €10m in 2019

The company, which has offices in Dublin, Ireland, and Richmond, England, offers investors the chance to purchase casks of new make spirit from distilleries, which are stored in a secure bonded warehouse before being bottled and sold, or matured for a longer period.

In 2019, the firm also grew its number of staff from four to 27 members. Originally created to target the Irish whiskey market, Whiskey and Wealth Club expanded into Scotch whisky by partnering with Bladnoch Distillery, and also has plans to enter the US and Japan.

The firm intends to grow revenue by 140% in 2020 to reach €24m (US$26.7m), while also increasing its employee numbers by a further 48%.

Jay Bradley, founder at Whiskey and Wealth Club, said: “We’re extremely pleased by our efforts over the past year. All the hard work from the team is very much paying off, with record revenues reported and our team seeing a significant growth in headcount.”