TIDMDIS
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 GBP5 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 GBP3 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 Tel: +44 203 283 4006
Shaun Claydon, Finance Director
----------------------
SPARK Advisory Partners Limited
(NOMAD)
----------------------
Neil Baldwin Tel: +44 203 368 3550
Mark Brady
----------------------
Turner Pope Investments (TPI)
Ltd
(Broker)
----------------------
Andy Thacker Tel: +44 203 657 0050
James Pope
----------------------
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 GBP5 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 GBP30 million.
Roland Grain, who is a major shareholder in Distil and sits on
the board of directors, has also invested GBP7.2 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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