James Strickland, left, and Ray Pugh
Owners James Strickland and Ray Pugh have completed the deal with drinks business Babco UK which will enable the company to move forward with its plans for growth.
Babco UK has taken a 50 per cent stake in Neptune, enabling the premium rum brand to expand its product range and increase it distribution networks with Amazon identified as a key sales channel.
Chief executive Mr Strickland said: "We are excited by Babco UK's investment in Neptune Rum.
"We are so passionate about quality, sustainability and supporting ocean clean-up initiatives, which is something Babco shares."
He continued: "This investment provides us with a fantastic opportunity to tell our story, share our exceptional rums and expand our ocean clean-up programs on a much larger scale.
"We are thrilled to enter this new chapter with Babco by our side."
Neptune Rum was founded in the UK in 2017, its Barbados Gold becoming the world's most awarded rum of 2018 and 2019.
Neptune Rum Caribbean Spiced was launched in 2020 with new rums under development with plans to launch in 2021.
Babco UK creates, manages and distributes brands for leading drinks companies from around the world with its portfolio including Tofka Vodka, Oranjeboom, Míl Gin and a series of white labels.
Managing director Chris Bowen, right, with Babco UK partner Lewis Bowen
Managing director Chris Bowen said: "We are delighted to announce this investment in Neptune Rum which shows our commitment and passion for the fast-growing rum category.
"This acquisition is part of our plan to move further into brand ownership and support premiumisation."
He continued: "We were initially attracted by the strength of Neptune Rum's brand identity and values which are backed by exceptional quality and natural ingredients.
"There is an excitement in the rum segment and with more than 65 global awards, Neptune Rum is the most exciting brand to watch.
"We are confident that with our expertise in building and growing drinks brands, we will continue to drive growth and set them up as a global brand."