RCS - Distil PLC - Ardgowan appoints developers of Distillery plans

DistilAnnouncement

19/01/2022 07:05

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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   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 £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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