Lyre’s Spirit Co has announced the successful completion of its latest strategic funding round and the appointment of a new CEO.
The funding round raised close to $35 million, while Lyre’s CMO Paul Gloster has taken over from founder Mark Livings (below) as CEO.
Lyre’s said it had experienced “extraordinary year-on-year growth in major markets and rising global demand” and said the funding would fuel momentum in key regions such as Australia, North America, Europe and the Middle East.
Senior VP of Global Marketing Kristy Bloomfield said the successful recapitalisation would spur Lyre’s through its next pivotal stage of growth and enhance its global supply footprint.
“Consumers across ANZ can now enjoy a Lyre’s in 5000+ venues, including Qantas Lounges, Accor Hotels, major retailers, and leading restaurants,” she said.
“Our programs are introducing a wider audience to the category, aiding our ambition to change the way the world drinks.”
Chairman Greg Bundy added: “Lyre’s success is a testament to the dedication and resilience of their team. Now, with the support of our investing partners, we can provide additional resources, improved manufacturing, and infrastructure to support our valued customers around the world.”
Lyre’s said it was thrilled Gloster was taking the helm as CEO, describing him as a key contributor to the brand’s outstanding growth since inception.
Gloster has been with Lyre’s since 2019 and previously worked at Coca-Cola Amatil and Pacific Beverages.
Gloster said: “Our new expanded leadership structure ensures accountability across all our strategic priorities and business functions. I am excited to work with such a capable and passionate team that is ready to lead the business into our next exciting stage.”
Lyre’s celebrates fourth birthday
The news coincided with Lyre’s celebrating its fourth birthday.
“This journey has seen us lead the rise of non-alcoholic spirits around the globe, proudly championing a path towards choice and inclusivity,” the company said.
“We are truly grateful to everyone who has been a part of this extraordinary journey.
“Look at us now! An average of six Lyre’s drinks are served every single minute! From Sydney to San Diego, Switzerland to Singapore, New York to New Zealand, our drinks are now savoured globally.
The company noted that it was honoured to be recognised as the world’s number one trending non-alcoholic brand by Drinks International.
“We are overjoyed to be the world’s No. 1 trending non-alcoholic brand, and the first non-alcoholic brand to scoop the coveted Best New Cocktail Ingredient award at the prestigious Tales of the Cocktail Foundation,” it said.
“Having the honour of being placed behind the bar at some of The World’s 50 Best Bars reinforces our commitment to quality.
“Most importantly, we raise a glass to our wonderful community. Their passion for mindful drinking fuels our ambition and reminds us why we do what we do. Lyre’s drinkers can now enjoy our amazing drinks when they shop, dine, drink, fly, stay, cruise and more. So thanks to you for your unwavering support in shaping the drinking landscape towards a more inclusive future.
“So, as we toast to four fantastic years, we extend our deepest appreciation to our team, our partners, and our fabulous community. Here’s to shared memories and the festivities ahead.”