Distil to invest up to £5m in Ardgowan Distillery

By Lisa Riley

Published: 09 August, 2021

Distil has announced that it will be investing up to £5m into the new eco-friendly Ardgowan Distillery in Inverkip, Scotland.

An initial tranche of £3m has been approved by shareholders of the AIM listed company, with the potential of an additional loan of up to £2m, the company has confirmed.

It said the investment represented a “step-change for the business” and would see Distil build a permanent home for Blackwoods Scottish Gin on the site, as well as give access to Ardgowan’s Master Whisky Maker, Max Macfarlane (Highland Park, Glengoyne, Bunnahabhain, Tamdhu), to develop a separate Distil blended malt whisky brand yet to be revealed.

“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,” said Don Goulding, executive chairman of Distil.

The convertible loan of up to £5m would allow Distel the opportunity to realise a longstanding ambition to create a home for Blackwoods, with its own stand-alone distillery and visitor centre, he added.

“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 team’s vision for the distillery and plans for the future are exciting, and we look forward to working with them on mutually beneficial projects as this new partnership develops and we push the Distil business into a new stage of growth and development,” said Goulding.

Martin McAdam, CEO Ardgowan Distillery, added: “We welcome this investment and are excited that Distil has chosen Ardgowan as the home for Blackwoods Gin.

“The Distil team is knowledgeable, passionate and very much aligned with our vision for the project. We welcome their investment and look forward to working together in an ongoing partnership to help both sides achieve ambitious goals.”

Based in London, Distil’s portfolio includes RedLeg Spiced Rum, Blackwoods Gin and newly launched TRØVE botanical vodka, Blavod Original Black Vodka, Diva Vodka and Jago's Vanilla Cream Liqueur.