Ardgowan appoints developers of Distillery plans

RNS Number : 8672Y

Distil PLC

19 January 2022

 

Distil PLC

Appointment of Bowman Rebecchi and Rebecchi Architectural to develop
Blackwoods Distillery plans

Distil plc (AIM:DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, TRØVE Botanical Vodka and Blavod Black Vodka, is pleased to announce Gourock commercial property specialists, Bowman Rebecchi and Rebecchi Architectural, have been formally appointed by Ardgowan Distillery to develop the new Blackwoods custom gin plant at its distillery site in Inverkip, Scotland.

Distil announced an investment of up to £5 million into the Ardgowan Distillery in July 2021, to include the development of a gin distillery on site, built in advance of the whisky distillery which is due to begin production in 2023. It was announced on 17 January 2022 that £3 million of this investment had been advanced.

The new gin facility and visitor centre will be developed by renovating existing buildings on the site at Bankfoot, near Inverkip, 30 miles west of Glasgow, with Rebecchi Architectural appointed to spearhead the refurbishment.

The site will include production facilities and a visitor centre, and as such will create a physical home for Distil's Blackwoods Gin, with the first production to come on stream later this year.

The facility will create at least four long-term jobs in the local area.

Don Goulding, Executive Chairman at Distil plc, commented:

"We are pleased to share that Bowman Rebecchi and Rebecchi Architectural have been appointed to lead the development of a new home for Blackwoods. We are confident that these are the right partners to help us realise our ambitions with the site, and are delighted with the progress being made with the project."

Martin McAdam, CEO at Ardgowan Distillery, said:

"We have worked alongside the team at Bowman Rebecchi and Rebecchi Architectural for several years. They are extremely capable and supportive, and we look forward to working with them to realise our gin visitor centre plans.

"Wherever possible, we intend to work with local firms and recruit local people to deliver our plans. We have already recruited staff locally and we plan to expand the number of Inverclyde suppliers we use as the development begins.

"Once complete, the Ardgowan Distillery will be here for decades to come, and we are making a long-term commitment to the people of Inverclyde."

Marco Rebecchi, a Director at Bowman Rebecchi and Rebecchi Architectural, said:  

"We are delighted to be supporting this exciting local project and look forward to creating an exciting and vibrant destination for Inverclyde residents and visitors.

"Bowman Rebecchi has been supporting the Ardgowan team over the past few years across a range of projects, and during that time have been able to create an excellent working relationship that is responsive to their needs.

"It is an exciting time for both Bowman Rebecchi and Rebecchi Architectural, with the businesses continuing to develop, grow and diversify, with this project another good example.

"Inverclyde has significant opportunities available for developers and investors and we are excited about the proposals and final development plans for the Ardgowan Distillery."

For further information:

Distil PLC
Don Goulding, Executive Chairman Shaun Claydon, Finance Director	Tel: [phone]
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin Mark Brady	Tel: [phone]
Turner Pope Investments (TPI) Ltd (Broker)
Andy Thacker James Pope	Tel: [phone]

About Distil 

Distil Plc is quoted on the AIM market of the London Stock Exchange. It owns drinks brands in a number of sectors of the alcoholic drinks market. These include premium spiced rum, vodka, gin, vodka vanilla cream liqueur and are called RedLeg Spiced Rum, Blackwoods Vintage Gin, Blackwoods Vodka, TRØVE Botanical Vodka, Blavod Original Black Vodka, Diva Vodka and Jago's Vanilla Cream Liqueur.

In July 2021, Distil  entered into a convertible loan note agreement to loan up to £5 million to Ardgowan Distillery, and which entitles Distil to convert the loan (if fully advanced) into 14.28% of Ardgowan Distillery share capital at an implied valuation of £30 million. 

Roland Grain, who is a major shareholder in Distil and sits on the board of directors, has also invested £7.2 million pounds into the Ardgowan Distillery, securing 51% of the shares in the company.

About Ardgowan Distillery Limited

Ardgowan Distillery Company Limited has full planning permission for the construction of an eco-friendly single malt whisky distillery, gin distillery and related retail and visitor experiences at the Bankfoot site on the historical Ardgowan Estate near Inverkip, 30 miles west of Glasgow. 

Ardgowan Distillery Limited has invested in world-class technologies to put sustainability at the heart of its plans, and aims to be certified carbon negative by 2024. The distillery will begin production in 2023 with capacity to produce up to 1 million litres of premium whisky per year, and the combined facilities will create up to 47 new local jobs. 

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