Richardsons backing fledgling rum business with £30k investment
A craft rum business is toasting its success after securing a £30,000 investment from the Black Country's famous Richardson business family.
The announcement came at the Trafalgar business leaders dinner held by the family at historic Hagley Hall this week.
And the winner's rum – the traditional drink of the Royal Navy down the ages – would certainly have won the approval of British hero Lord Nelson, whose naval victory at the Battle of Trafalgar two centuries ago was being celebrated at the dinner.
Burning Barn smoked rum was launched by Katherine Jenner three years ago, inspired by a severe fire at the family farm at Hampton-in-Arden, near Solihull. Although firecrews saved their house, the barn was utterly destroyed.
From the ashes Katherine was inspired to launch her own brand of fiery smoked rum and was one of three businesses shortlisted for the Richardson investment after a pitch competition at Birmingham's Venturefest event last month.
The Richardson's Oldbury-based property and investment business is a passionate advocate of the West Midlands and the family was keen to support an emerging and innovative young business from the region.
Chris O’ Connor, investment director of RCL Partners, speaking on behalf of the Richardson Foundation, said: "We want to support early stage businesses. All three finalists are really promising, but we felt that the investment would have the greatest benefit for Burning Barn. It will enable them to take the next few steps and move the business to the next level."
A delighted Katherine Jenner said: "This means we can expand and take on more people. It takes us a big step forward."
The other two finalists were Birmingham sisters Reena and Geeta Salhan – who have launched the Green Sisters business creating a range of Indian snacks that are free from a string of allergens such as gluten, dairy, nuts and sulphites – and Coventry based Jeff Zhang who's Beacon Helmet uses innovative laser technology to improve safety.
The latest investment, through the Richardson Brothers Foundation, underlines the new direction of the family business. Built as a property empire by Roy Richardson and his late twin brother Don, Roy’s sons Martyn, Lee and Carl have been at the helm for the past 20 years expanding the range of the business, which operates across the UK and around the world.
The Richardson family now have investments in companies ranging from a New Zealand avocado producer, a British vineyard producing award-winning sparkling wine, the Plenish health drink brand and a forestry and gardening equipment company.
Carl Richardson told guests: "Supporting new young talent as it enters the workforce and backing local entrepreneurs in a dynamic and flexible West Midlands business environment helps us all to deal with the challenges ahead and to make the most of the opportunities presented."
