Cumbrian distillery sold to winemaker in £71m deal

The Lakes Distillery, near Bassenthwaite, has been bought by English sparkling wine producer Nyetimber

A Cumbrian distillery has been bought by the English sparkling winemaker, Nyetimber, in a £71m deal.

The multimillion-pound sale for The Lakes Distillery, near Bassenthwaite, went through this week after the business made a bid in April.

The distillery - which opened in 2014 - produces whisky, gin and vodka, and employs more than 80 people.

Chief executive James Pennefather previously said joining the Nyetimber family of companies would benefit the "quality of production, brand marketing and routes to market".

The distillery opened its doors 10 years ago, after a disused dairy farm five miles (8km) from Keswick was redeveloped and turned into a drinks manufacturing facility.

Mr Pennefather previously said the company had a plan to achieve 1% of the global luxury market of dark spirits by 2030.

He added the £71m valuation was more than 12 times the revenue achieved by the distillery in the last financial year.

Nyetimber and The Lakes Distillery have been approached for comment.