Island Rum Company Secures Private Investment to Fuel Global Expansion
The Island Rum Company, based in Norway, has successfully secured private investment to drive its global market expansion and upgrade its production facility in Cuba. Five private investors participated in the funding round, which closed in November 2024, taking a minority stake in the company. Island Rum Brands, the commercial and marketing arm of Island Rum Company, confirmed the development in a recent article Just Drinks.
Expanding Global Distribution and Modernizing Production
The newly acquired funds will strengthen global distribution and marketing efforts, with a particular focus on key strategic markets such as the UK, France, and Italy. Additionally, the investment will support the modernization and expansion of the company’s production facility in Cuba.
Island Rum Company Board Chairman Henrik Björck emphasized the importance of this investment, stating, “This funding arrives at a crucial time as our global expansion plans take shape. Our teams, both international and in Cuba, have developed comprehensive commercial and marketing strategies for 2025 and beyond, backed by this new financial support.”
Future Investment Rounds and Expansion Plans
Following the successful funding round, Island Rum Company has opened its next investment round, which it aims to close by April. This initiative will further support its growth ambitions and infrastructure improvements.
Founded in 2012 in Norway, Island Rum Company owns the renowned rum brands Black Tears and La Progresiva. The company produces approximately 100,000 nine-liter cases of rum annually. Manufacturing takes place in Cuba through a joint venture with Grupo Azucarero, also known as Azcuba Sugar Group, under the entity Ron Vigia. However, bottling for Black Tears occurs in the Netherlands.
Upgrading the Cuban Production Facility
Ron Vigia will oversee the facility’s expansion and modernization in Ciego de Ávila, central Cuba. The development includes installing a new bottling line, acquiring an advanced mixing tank, and integrating solar panels to ensure a continuous electricity supply. Completion is expected within the year, contingent on the results of the upcoming investment round.
Strengthening Market Presence in Germany
In addition to expanding its production capabilities, Island Rum Company recently entered the German market. A new distribution deal with Kammer-Kirsch, a local importer and distributor, will introduce Black Tears and La Progresiva to German consumers starting this month.
With sales in 45 markets worldwide, Island Rum Company continues to strengthen its global footprint. The latest investment ensures the company remains on track for sustained growth, market expansion, and enhanced production efficiency.
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Source of information
Just Drinks’ Article: Island Rum Company secures private investment
The image of the article is courtesy of © Eva Bronzini via Canva.com
