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Salcombe Distilling Co.

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We are the British luxury coastal spirits brand bringing special moments of escape to consumers worldwide

172%
 - 
Funded 5 Nov 2024
£250,002 target
£431,612 from 552 investors
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Business overview

Location Salcombe, United Kingdom
Social media
Website salcombegin.com
Sectors Food & Beverage Non-Digital Mixed B2B/B2C
Company number 09140632
Incorporation date 21 Jul 2014
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Investment summary

Type Equity
Valuation (pre-money) £23.4M
Equity offered 1.81%
UK tax relief

EIS

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Business highlights

  • Growth of 156% in Travel Retail in FY24*
  • Gross margins of 66% in FY24*
  • World's first gin distillery at sea with P&O Cruises
  • Partnerships with Fortnum & Mason and the RNLI
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Key features

  • Secondary Market
  • Nominee investment min. £25.89 +
  • Direct investment min. £20,000.00 +

Pitch

About the Campaign

We're the British coastal gin brand based in Salcombe, Devon. We're innovators in the ultra-premium gin category with a strong presence in UK travel retail and prestigious trade customers. We aim to be the world's #1 luxury gin brand, elevating the category in the UK and internationally.

Market Opportunity

Focusing on quality, innovation, and luxury, we aim to unlock further growth in the travel retail and prestige trade channels, by leveraging our position as an ultra-premium British coastal luxury spirits brand and expand into new markets by taking advantage of the global market growth of 4% in 2023 (The Spirit Business Jun 24, citing IWSR Drinks Market Analysis).

Traction & Key Accomplishments

We're one of the world’s only distilleries accessible by boat and have built a well-respected brand in the ultra-premium UK gin category.

We pioneered the world’s first distilleries at sea with P&O Cruises, have seen 156% growth in travel retail in FY24 (ending 29/02/24)*) and scooped >20 top awards.

We achieved Net Sales (NSV)** of £2.44m in FY24, with gross margins of 66%*, whilst maintaining our commitment to sustainability and community with partnerships with the Marine Conservation Society and the RNLI.

* Past performance is not an indicator of future performance. Based on unaudited management accounts. See 'Key Information' tab for more finance details.

**^NSV is Net Sales Value, which is Gross Sales Value commonly referred to as turnover, less duty and trade promotions and discounts.

Use of Funds

We are seeking funds to strengthen our position and broaden and deepen our reach, by investment in Advertising & Promotional Spend (A&P) and support in key channels, to fulfil our brands potential in the ultra-premium gin category, bringing moments of coastal escape and luxury to consumers worldwide, growing shareholder value.

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 and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Republic Europe does not take any responsibility for them.

Key Information

Outstanding Debt

The company has the following Debt.

A loan from Funding Circle with £58,833.18 remaining, with 5% interest. This is repaid in monthly instalments of £7,492.73, with the last repayment due in February 2025.

The funds raised in this round will not be used to repay this debt.

Share Class

The Company has 4 share classes in issue: A Ordinary, B Ordinary, C Ordinary and D Ordinary shares. All classes have equal income and capital rights. In terms of voting rights, B Ordinary and C Ordinary have full voting rights, whereas D Ordinary shares have no voting rights and A Ordinary shares are only entitled to vote in respect of resolutions concerning (i) winding up of the Company; or (ii) changes to the A Ordinary shares’ rights.

Seedrs investors will be getting beneficial ownership in C Ordinary shares as part of this round.

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

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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 webpage is issued by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), and has been approved as a financial promotion for the purposes of s.21 of the Financial Services and Markets Act 2000 by Prosper Capital LLP ("Prosper") which is authorised and regulated by the Financial Conduct Authority with firm reference number 453007 on 24 September 2024. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. It is not for distribution in the United States of America and all investment activities take place within the United Kingdom. Any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Neither Republic Europe nor Prosper provide advice or recommendations in relation to any investment on this site. 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. Neither Republic Europe nor Prosper provides 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 £23,433,419

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 Republic Europe.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Republic Europe

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 Republic Europe 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).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Republic Europe 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 Republic Europe will not benefit from any rights under a shareholder agreement. As a result, Republic Europe 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.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

If available, this is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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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 Republic Europe. 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.

Learn more here

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

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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