The new majority owner of Ardgowan has brokered a deal with another of his drinks investments that will see the Inverkip site become home to an accompanying gin distillery.
The agreement with Distil will provide a loan injection of up to £5 million to Ardgowan as work proceeds on its million-litre single malt distillery, which is expected to begin production in 2023. Part of the money will be used to construct a £400,000 custom gin plant that will become home to Distil’s small batch Blackwoods brand.
Distil shareholders have approved an initial £3m tranche of loan money, with a potential follow-up loan of up to £2m. The funds will be used to support Ardgowan’s development until its first whisky matures in 2028.
First gin at the site, located 30 miles to the west of Glasgow, will come on stream next year. The facility will create four to five long-term local jobs, in addition to the 30 jobs projected from the construction of the malt distillery and visitor centre.
The deal comes after it was announced in June that Austrian IT executive Roland Grain had taken a majority stake in Ardgowan, which is headed by chief executive Martin McAdam and was set up in 2016 to develop a whisky distillery and visitor centre on the historic Ardgowan Estate.
Mr Grain, who also owns a 20 per stake in Distil, put £7.2m into Ardgowan with a further £1.2m from new and existing shareholders.
“We are excited that Distil has chosen Ardgowan Distillery as the home for Blackwoods gin,” Mr Grain said. “The historical context of the Ardgowan Estate provides the perfect location for this award-winning spirit which is made traditionally using selected Scottish botanicals.
“Once complete this will be more than just a production facility, it will provide an opportunity for visitors to immerse themselves in the world of gin and we plan for this to be integrated fully into the distillery visitor experience at Inverkip.”
READ MORE: Austrian IT executive puts £7.2m into Inverclyde whisky project
Mr Grain is the founder, owner and chief executive of Grain GmbH, which provides IT services to large international corporations in 17 countries. His track record in the spirits industry began with an initial small investment in the Cotswolds Distillery, followed by investments in Australia’s Manly Spirits, the East London Liquor Company, Australia’s Potstill Spirits and most recently before Ardgowan, Distil.
Don Goulding, executive chairman of Distil, said: “Our deal with Ardgowan and the Blackwoods facilities will provide the opportunity to add significant growth to the business in both the long and short-term by allowing us to accelerate new product development across our existing portfolio as well as creating new brands, driving the business forward into the next stage of development.
“We very much look forward to kicking off our partnership and working closely with the team on creating both the site and fantastic new liquids that will follow.”
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