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GlenWyvis Distillery announces second share offer
After hitting its £1.5 million crowdfunding target last year, Scotland’s first community-owned Scotch malt whisky distillery, Glenwyvis, is to launch a second share offer.
Glenwyvis has announced the launch of a second share offer
Dingwall-based GlenWyvis Distillery has said it is launching the offer – with a target of £750,000 – to meet continuing demand from locals and visitors who want to be part of the project, after more than 2,600 members invested in the initial share offer in 2016.
Due to launch in August, the minimum level of investment will be £250, with the option for investors pay extra to have their name added to the distillery wall.
Funds raised will help to reduce commercial lending and accelerate the distillery’s brand development plans. This will include extending GlenWyvis’s product offering with a gin, and further developmenting the GlenWyvis visitor experience in and around the town to maximise the benefits of the distillery’s partnership with 516-mile scenic route ‘North Coast 500’.
GlenWyvis Distillery founder and managing director, John McKenzie, said: “The second share offer was always in our plans – and we’ve brought it forward to give a new audience the opportunity to be part of our community-owned distillery.
“The decision to open up the £250 investment level to everyone everywhere, albeit with a reduced rewards package, has been made to widen membership in GlenWyvis to as many people as possible.
“Our aim is to reach local people who missed out on the original offer, and to make membership accessible to visitors who come to explore the Highlands via the North Coast 500. We believe that more investors will translate into more visitors both for GlenWyvis and for the town of Dingwall.”
The steel frame of GlenWyvis Distillery was erected in late June, and contractors are busy finishing the exterior walls. The copper stills will be installed this month, with the first run of new-make spirit scheduled for late November.
The new share offer will be launched on 3 August at the Black Isle Show in the Scottish Highlands.