Ibiza is famous as an island vacation playground, but one company wants to make it known for its herbal spirits. Basbas, a lower-ABV herbal spirit, is launching a $2 million equity raise, the company announced today.
While other European anise-based spirits like Greece’s ouzo and Italy’s sambuca show up on menus across the pond, Ibiza’s hierbas have been relatively unknown outside of the Balearic region until Basbas’ initial foray into the U.S. market early last year. First distilled in the 16th century by monks living in northeastern Spain, hierbas were often used as a natural remedy. Monks fermented wild anise, then extracted essential oils of other medicinal herbs like rosemary, juniper, and sage into the alcohol. Now, the spirit is undergoing a rebranding campaign spearheaded by Paul Geller, CEO of Holy Seed Beverage Group, Basbas’ parent company.
“With this funding, we’ll be able to continue to bring this heritage spirit to North America, the UK, and Asia, expand our marketing efforts, and strengthen our distribution channels, all while staying true to our commitment to quality and the slow lifestyle of northern Island Ibiza,” said Geller in a statement.
Geller has been building companies at the nexus of media, tech, and entertainment for more than two decades. The CEO also runs Channelshift, a small communications venture, and previously worked in digital media operations for former New York City mayor Mike Bloomberg’s unrealized 2016 presidential campaign. Disenchanted with politics, Geller eventually went to work for the Kabbalah Centre, and later became inspired to make hierbas his next venture while on a holistic retreat in Ibiza.
The announcement comes on the heels of a successful partnership with Ibiza’s International Music Summit, a leading electronic music industry conference. The brand is aiming to build on the island’s trendsetting reputation and showcase the island’s “rich heritage and vibrant culture” to a wider audience.
The funds raised will be used to continue fueling Basbas’ recent growth and expand the brand’s reach in key markets including Miami, New York, Los Angeles, London, and its homebase in Ibiza. With on-premise menu additions at Michelin-rated restaurants like Doya Miami and The Four Season’s Surf Club in Miami, Basbas now plans to expand its off-premise offerings across key markets. Basbas has also found success in direct-to-consumer sales, selling out twice in the past year.
“We’re incredibly proud of the success we’ve achieved in our first two drops, and we’re excited to continue to grow and expand our reach,” said Geller.
While Jägermeister might be the most well known European herbal liqueur, Basbas’ 25% ABV spirit fits closer with the new wave of other no/low ABV spirits using botanicals, herbs and European drink traditions to appeal to moderation trends. The Pathfinder Hemp and Root, a fermented and distilled alcohol-free amaro made with hemp, douglas fir, sage, wormwood and other herbs received an investment from the Stoli Group yesterday.