Gosnells meadery raising £500,000 to challenge ‘stagnant' cider category

Mead producer Gosnells has launched a £500,000 equity fundraising campaign in a bid to challenge the cider market.

While the global mead market is worth around £345m, the global cider market is worth almost £13bn, with the UK cider category worth around £3bn.

Gosnells' founder Tom Gosnell said the cider category is "stagnant and lacks the innovation and premiumisation seen in other alcohol categories".

He said Gosnells' 4% abv sparkling honey-based drinks, which are labelled as Nectar, could "fill this void".

It is hoped the six-figure sum, of which 50% has already been met by existing shareholders, will also help to expand Gosnells' presence further into the on-trade.

Gosnells was founded in 2014 and claims to be London's first meadery in 500 years. It is stocked in 75 hospitality venues including Cubitt House, Drake & Morgan, and Brewdog.

Alongside raising funds, Gosnells is searching for a location to open a second bar. It launched a flagship site in Bermondsey, south London, last year.