Sapling Spirits - (EIS)

Brought to you by me….. and…. Novabook – the accountant for startups!

Nov 14, 2024

∙ Paid

I met Ivo - the founder of Sapling Spirits - sitting in a make-shift sauna in the bottom of Napper’s garden. We’d just been swimming in a pond and he was wearing a strange sauna hat, coloured green.

Years later, here we are.

Introducing Sapling

Sapling Spirits crafts world-class, award-winning spirits with a mission: to heal the planet. As the UK’s leading independent super-premium vodka and the world’s first climate-positive spirits brand, Sapling is now expanding into the U.S. market. This exciting move is supported by our newly appointed Chairman, Mark Cornell, former CEO of Moët Hennessy USA.

Key Highlights

94% CAGR since launch with revenues surpassing £2 million.
Highest B Corp Score in vodka globally (111.7).
Ranked #1 independent super-premium vodka in the UK and #5 overall, standing alongside conglomerate-owned giants like Grey Goose, Belvedere, Ciroc, and Reyka.
Two Gold Medals at the International Vodka Masters and 5-star reviews on major platforms (Waitrose, Ocado, Amazon).
Listed with top UK retailers, restaurants, and bar groups, boasting over 2,000 accounts, including 17 Michelin-starred establishments.
Achieved a 90% customer retention rate since 2021, with an industry-leading rate of sale exceeding 1.1 bottles per site per week.
Chosen as an ESG partner for major groups like Compass Levy Group and Virgin Atlantic as a preferred supplier.

A word from our sponsors: Novabook

Novabook is the accountant for startups. It’s built by tech entrepreneurs who scaled their previous UK startup to 15M users and achieved an 8-figure exit. Frustrated by the lack of quality financial support for founders, they set out to create what they wished they had: responsive accounting services by accountants who get startups. Whether starting, raising, scaling, or planning to exit your business, the team at Novabook can support you at every step.

Stephen, their founder is a great guy and investor on the Shaman List — it’s all family here.

Highly recommend checking out the website.

Back to it……

Fundraise

With a clear route to exit by FY 27/28, their objective is to achieve annualized sales of 80,000 9L cases.

They’re raising £2 million to expand our management team and enhance market-entry budgets. Over 50% of this target is already raised from industry experts and high-net-worth individuals, and they are looking for additional commitments by December 20th.

EIS available
Upcoming trip to the U.S. in early December, with investor and distributor meetings confirmed with Southern Wine & Spirits, Breakthru, and Johnson Brothers.

The Market

The global vodka market is valued at $40 billion, with the UK making up $4.2 billion.
Premium and super-premium spirits now represent almost 35% of the total category value, driven by significant growth in the last decade. The UK super-premium vodka market grew 6% in 2023, even as other segments declined.
Sustainability is increasingly non-negotiable: 36% of businesses will consider dropping suppliers over unmet sustainability standards (Bain & Company, 2024 Report), and 59% of consumers weigh green credentials when selecting a drink option (Footprint Drinks Report, 2023).