Tongue In Peat, the world’s only peat smoked tomato juice, has secured investment from Dundee-based Ruby Capital, a new investment portfolio founded by Scottish entrepreneur and philanthropist, Tony Banks.
Founded by Hannah Fisher during the 2020 lockdown, Inverclyde-based Tongue in Peat has revolutionised the Bloody Mary mixer market. The inspiration behind the 12-hour cold smoking process with Islay peat to create the infused tomatoe juice stemmed from Fisher watching bartenders working hard, under time pressure, to add multiple layers of flavour to make high quality Bloody Mary cocktails in premium brunch venues and hotels.
In 2021, the brand caught the attention of drinks industry veteran Chris Cosh, formerly associated with Wallaces Express. Impressed by its potential, Cosh not only provided seed investment but also came on board as the Head of Commercial to build relationships with wholesalers.
Over the subsequent 20 months, the team tested the product, earning three Great Taste awards along the way, and is now included on the menus of top tier hospitality brands like the Hawksmoor estate, Gleneagles, The Torridon, and Mayfair Town House. It also clinched the title of the best non-alcoholic newcomer at In-Drinks.
Bruce Casely, Chief Investment Officer for Ruby Capital, explained why they wanted to invest in this premium cocktail mixer. He said, “At Ruby we are keen to support emerging business talent and superb products. We think Hannah and the team at Tongue in Peat have both a great product and an exciting future. We support a diverse range of companies where we think we can add value and we are looking forward to helping develop the world’s best Bloody Mary mixer!”
Hannah Fisher, Creator of Tongue in Peat, said, “We have been extremely lucky to have investors who not only bring significant drinks experience to the Board but are passionately committed to our success, continually offering hands on support.”
The company say that the additional investment will ensure Tongue In Peat has the resources to fulfil its potential by supporting its growth in London On Trade, E-Commerce and entering the North American market, the home of the Bloody Mary.
Tongue in Peat is available to the trade in 12 x 250ml cases or 6 x 500ml cases directly or via a selection of leading wholesalers.