GlenWyvis Distillery to launch new share offer
A new community-owned distillery in the Highlands will be launching a second community share offer in August.
GlenWyvis Distillery, near Dingwall, has marked its latest construction milestone with the announcement that a new share offer will be launched to meet continuing demand from locals and visitors who want to be part of the world's first 100 percent community-owned whisky distillery.
The minimum level of investment in the new share offer will be £250 for all investors – and supporters will also be able to pay extra to have their name added to the distillery wall. Funds raised towards a target of £750,000 will help to reduce commercial lending and accelerate the distillery’s brand development plans in line with feedback received from members in a recent survey. This will include extending the GlenWyvis brand and product offering, bringing gin distilling into Dingwall, and further development of the GlenWyvis visitor experience in and around the town to maximise the benefits of the distillery’s new business partnership with the 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.
"People who missed out on the original share offer are always asking if they can invest, and even more so now that the building is taking shape and we’ve opened GlenWyvis Basecamp down in the town itself. It is an exciting time, and this new share offer will not only help us to fast-track our brand, but will reduce bank lending, so we can deliver on our community benefit remit sooner."
The original share offer in 2016 attracted 2,600 investors.
The steel frame of GlenWyvis Distillery in Dingwall was erected in late June, and is now visible on the hillside high above the Highland town. Contractors are busy finishing the exterior walls, and 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 Thursday 3 August at the Black Isle Show.
For more information on community shares visit the Community Shares Scotland website.