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Port of Leith Distillery

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A unique Scotch whisky distillery, a global premium gin brand and a bit of Champagne

139%
 - 
Funded 3 Aug 2022
£2,000,005 target
£2,805,318 from 911 investors
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Business overview

Location Edinburgh, United Kingdom
Social media
Website www.mucklebrig.com/
Sectors Food & Beverage Mixed Digital/Non-Digital Mixed B2B/B2C
Company number SC490302
Incorporation date 3 Nov 2014
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Investment summary

Type Equity
Valuation (pre-money) £27.7M
Equity offered 9.17%
Tax relief

EIS

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Business highlights

  • Unique vertical Scotch whisky distillery well underway
  • Award winning premium gin exported to 24 markets
  • £1.7m Revenue, £875K Gross Profit and £100K EBITDA in 2021*
  • £10m invested to date
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Key features

  • Secondary Market
  • Nominee investment min. £12.42 +

Idea

Introduction

The Port of Leith Distillery is a 9-storey vertical single malt Scotch Whisky distillery now rising in Edinburgh's historic docks.

Scheduled for opening in early 2023, it will become an extraordinary new architectural landmark, visitor attraction, and pioneering production facility for Scotch Whisky - the world’s number one internationally traded spirit.

We also produce the multi-award winning Lind & Lime Gin, launched in 2018. 130,000 bottles were sold in 2021, which we export to 24 international markets.

Due to growing demand, we've recently moved into a new, expanded facility in Leith, just around the corner from the whisky distillery.

With £10m raised to date, construction of our distillery well advanced and significantly de-risked, a fast-growing gin brand established, years of whisky research and development under our belts, and a carefully crafted and enthusiastic team in place, we're excited to open this investment opportunity to the wider public.

Substantial accomplishments to date

- Lind & Lime launched in December 2018

- Whisky Distillery freehold site purchased 2019, prime location next to the Royal Yacht Britannia (Scotland's highest rated paid attraction on Tripadvisor)

- Three year research programme in collaboration with the International Centre for Brewing & Distilling at Heriot Watt University into novel yeast strains and fermentation in whisky production completed in 2021

- Three-way Partnership signed in 2021 with local farm and local maltster to procure full malt requirement from single estate

- Move to new, upgraded gin production facility in 2022 including the relaunch of our onsite Gin tours

- Many top tier design and product awards for Lind & Lime including Double Gold in the San Fransisco World Spirits Competition, London Dry Gin of the Year at the Scottish Gin Awards and Best in Show at the Craft Spirits Awards Berlin

Monetisation strategy

- Lind & Lime Gin currently produces the majority of our revenue. Rising to £1.8m in 2021, we are excited by its global growth potential.*

- Tours of our new gin distillery have launched and are attracting strong interest

- We have established a trading arm called the Leith Export Company, currently used for our online shop, but now with a proprietary Champagne marque, with other wines to come

*based on unaudited management accounts.

- Our Cask Partners series of products linked to whisky maturation is now distributed across the UK and soon to be exported to the US

- And of course, our new Scotch Whisky Distillery will have Tours, a top floor Bar/Restaurant, a Shop and we target selling up to 1 million bottles of whisky a year

Use of proceeds

We will be using the proceeds of this raise for a variety of projects, including:

- Continuing the construction of the Port of Leith Distillery

- Investing in working capital to allow the gin business to grow as fast as possible

- Grow the Leith Export Co range of proprietary brands

- Continue our investment in making Muckle Brig as sustainable as possible

Investor Perks

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.

Key Information

Direct Investment

Please note, £1.9m of the direct investment reflected in the campaign was received by the business 23rd December 2021. The business has already begun using these funds in line with the Use of Proceeds for the campaign.

Founder Shareholding

Please note, the two Founders of Muckle Brig have a pre-money shareholding of 20.4%. One other shareholder currently holds a 27% shareholding. This shareholder is an early stage investor in the Company and has the right a Board seat but does not currently sit on the Board.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Port of Leith Distillery has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 23 June 2022 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £27,710,883

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Nominee investment

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

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Security Token

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