June 24, 2018
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Maine distillery raises more than $500K to expand

By Lori Valigra

Maine Craft Distilling LLC, a small Portland distillery, is expanding its production and tasting area on Washington Avenue and increasing its presence outside the state.

The company raised $522,750 in equity, mostly from existing private investors, to fund its expansion. The funding was made public Friday morning in a U.S. Securities and Exchange Commission filing. The distillery previously raised $250,000 in a filing in 2014.

CEO Nathaniel Davidson told the Bangor Daily News that the company has “increased production sevenfold over the past year,” though he wouldn’t reveal exact details of the company’s finances or production figures.

The company has a Freeport location and is planning locations in Florida, the District of Columbia and Chicago.

“We have a robust spirits business and are making more for bigger markets outside the state,” he said.

There are 61 distilleries in New England, including 11 in Maine, according to the website Thrillist.

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