Distil plans to build a new gin plant for its Blackwoods gin at Ardgowan Distillery‘s Inverkip site, following a loan of up to £5 million from the company.
The UK beverage group’s shareholders have approved an initial tranche of £3 million, with a potential follow-up loan of up to £2 million. The agreement will allow Distil to break into the malt whisky category globally, and as part of the deal, the firm will also develop a separate Distil blended malt whisky brand, which is yet to be revealed.
The new Ardgowan Distillery site will include production facilities and visitor centre. The facility will create up to 35 local jobs in the first five years.
Distil’s executive chairman, Don Goulding, said: “We are delighted to announce our loan agreement and collaboration with Ardgowan which we see as a fantastic opportunity to add significant growth to the business in both the short and long term”.
“The convertible loan of up to £5m allows us the opportunity to realise a longstanding ambition to create a home for Blackwoods with our own stand-alone distillery and visitor centre.
“Access to our own facilities, as well as the ability to draw upon the Ardgowan team’s wealth of experience, will allow us to accelerate NPD across our existing portfolio of brands, as well as create our own brand of malt whisky, positioning ourselves in a premium category which has been in long term growth globally.”
The Ardgowan Distillery hopes to be producing spirits in 2023, as well as welcoming tourists to its visitor centre.
© FoodBev Media Ltd 2022
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