“The Island Rum Co is on an incredibly exciting journey, combining rich Cuban heritage with a strong international growth strategy,” commented founder & CEO of Axelina Corporate Finance Andreas Lindström. “From the very beginning, we saw a unique opportunity in their vision and quality-driven approach, which resonated well with international investors.
“It has been a privilege to support the team in securing the right partners for their expansion.”
Axelina Corporate Finance aims to become the leading advisor in the Nordic region within private markets, with a particular focus on capital raises, valuation and M&A.
The Island Rum Co was established in 2012 in Norway with the aim to create the first spiced Cuban rum – Black Tears. Several years later, in 2019, via its trading subsidiary Island Rum Brands, the joint venture was created with Zerus, commercial arm of Azcuba, Cuba’s state-owned sugar company. The second rum brand, La Progresiva, was added to the portfolio in 2021 – a classic aged sipping Cuban rum.
Both brands are now available in 45 markets internationally, while in Cuba, the home market, Black Tears is the third largest premium rum brand, the choice of a younger generation of consumers.
“This investment round comes at a time when our global expansion and growth ambitions are starting to come to life,” stated Henrik Björck, chairman of the board of The Island Rum Co. “We are pleased with the cooperation with our partners and friends at Axelina, and both our international and Cuban teams have strong commercial and marketing plans for 2025 and beyond, supported by this new financial backing.
“The next round is opening now, with the aim to close in April.”
Black Tears and La Progresiva Cuban rums will be next showcased at BCB Singapore on 3-4 March (Nimbility stand B16), and later at Prowein in Dusseldorf on 16-18 March (Kammer-Kirsch stand M45 in Hall 5).
