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The first winner to benefit from the Richardson family’s £30,000 New Ventures investment competition is going from strength to strength.
Katherine Jenner, founder of the Burning Barn craft rum business, said the backing of the famous Black Country-based business family had enabled her firm to invest in a string of major marketing initiatives, including developing two new products.
Less than a year since winning the initial New Ventures competition, the company is heading into its busiest period with renewed confidence.
“The Richardson family have been the ideal investor, supporting our decisions and enabling us to take our business to a new level,” said Katherine.
And now another fledgling business is on the verge of securing new support from the Richardson family, with judging due to take place at the family’s Oldbury offices soon for the 2019 New Ventures award and another investment of £30,000.
2018’s winner, Burning Barn smoked rum, was launched by Katherine Jenner just two years ago, after a severe fire at the family farm, at Henley-in-Arden, near Solihull. Their house was saved by firefighters but the barn was totally destroyed.
From the ashes Katherine was inspired to launch her own brand of fiery smoked rum that is building a successful customer base, due to its strong brand and distinct flavours.
In October 2018 her business won the inaugural New Venture competition with a £30,000 prize funded by the Richardson family.
“Since we secured the funding we have launched two new products – a spiced rum and a honey and rum liquor that has been extremely successful, selling out at all the events we have been attending,” said Katherine. “We were also able to recruit a couple of interns over the summer, engage in a number of marketing initiatives and work with a distribution partner.
“It has made a huge difference, enabling us to make major progress and over the next few months we will be entering our busiest period.”
Joe Robinson, speaking on behalf of the Richardson family, said: “Katherine and Burning Barn are an outstanding example of the innovative businesses being created across the region that the New Venture Competition was looking to support.
“We are continuing to look for further investment opportunities for their core investment portfolio. Typically, they are looking to support growth capital projects of between £2m and £10m, with their growth capital interests growing across a range of exciting businesses.”
The latest investment underlines the further growth of the family businesses that have been run by Martyn, Lee and Carl Richardson for the past 20 years and includes a range of property and investment interests.
For further information about Burning Barn visit www.burningbarnrum.com
For more information:
Jan Jennings - call 07074 073731. email: jan.jennings@rclpartners.co.uk