Ahascragh Distillery announce second investment round
- Shares open to wider public on smaller levels – from €115
- EIIS Qualifying Investment
- First Rounds successful with €3.3m raised
- Second round funding target is to raise a minimum of €1.5m via public investment (‘Clan Investment’ round and EIIS Programme)
- Strong initial demand from private investors, some of whom have invested in casks with Ahascragh Spirit
- Opportunity to be a part of the thriving Irish Whiskey industry – fastest growing premium spirit in the world, with sales set to double by 2030
Ahascragh Distillery in Co Galway is delighted to announce their ‘Clan Investment’ round that allows a wider community to own shares in the company and help realise the vision for the distillery. The transformation of the old Ahascragh Mills into a world class distillery, and visitor experience, is moving forwards at pace. The old corn mill was acquired in 2019 and planning permission was secured in October 2020, with structural and enabling works completed in June of this year. The distillery is on target to commence production by late 2022.
Following a successful first round of funding, Ahascragh Distillery want to open the opportunity to a wider group of people. A series of webinars for potential investors have already commenced with good interest from domestic and international investors.
Ahascragh Distillery’s ‘Clan Investment’ round includes rewards and benefits that range from personal gifts to special experiences. These rewards are unique to this fundraising campaign. Investments of over €1,000 are also EIIS eligible. The minimum investment for the ‘Clan Investment’ round is €115.
The campaign will go live on Friday 19 November. You can pre-register your interest now at www.ahascraghdistillery.com to be amongst the first to be involved and for the chance to win a ‘Clan Colla’ Irish Whiskey hamper.
Michelle McAllister, Founder & Managing Director commented
“Ahascragh Distillery is rooted in County Galway. The distillery will be supported by local workers and suppliers, and will draw from the surrounding landscape and resources to distil our spirits. In return, we want to ensure that the wider community has the opportunity to own a little bit of the project. We have been overwhelmed by the welcome and support from locals since we began this venture. This round makes it easier & more accessible for the local and whiskey community to invest in the project even if it’s on a smaller level. We’re inviting the people of Galway and beyond to join us on this exciting journey.”
Gareth McAllister added
“We are privileged to have wonderful investors already on board and we want to continue to grow the family. This is an attractive opportunity for investors across Ireland, and the world, to buy in to the business and own a piece of whiskey history in the West of Ireland. Whiskey is now seen as a good asset class for investors. We are going one step further by inviting investors to get in at the ground floor and own a share in a new distillery”
Ahascragh Distillery will be a state-of-the-art whiskey and gin distillery in County Galway. Work has commenced on transforming a nineteenth century mill into a world class distillery, powered by renewable energy using innovative technology. In June, The Old Mill Shop & Café opened its doors to locals and visitors while the company launched their first products, Clan Colla Irish Whiskey and Xin Gin.
Currently the fastest growing premium spirit in the world, Irish Whiskey sales have grown 140% in the last ten years. It has proven to be an almost pandemic proof product with 11.4 million cases sold in 2020; just a 0.4% decrease from the previous year. With sales set to double by 2030, eclipsing Scotch Whisky, further distilling capacity in Ireland is critical to help meet the demand.
While living in Hong Kong & China, Founders Gareth & Michelle McAllister spotted a gap in the market for premium Irish spirits. With plans to launch products internationally this year, they see Asia as a significant opportunity for the growth of Irish whiskey.
Other investment opportunities
EIIS is one of the only mainstream Irish tax breaks and encourages taxpayers to support early-stage Irish companies. Income tax relief of 40% of the amount invested under an EIIS in year 1 makes this an attractive and efficient tax relief initiative. You can now contact email@example.com to find out more
Tax relief: 40% of your investment amount can be claimed as relief in 2022
Minimum Investment: €25,000 in A Redeemable Shares of €1 each.
Invested Term: 5 years
Gross Return: 84% with tax relief.
Founders Cask Programme
Earlier this year, Ahascragh Distillery launched their Founders Cask Programme. Individuals, families, groups of friends, clubs or corporate entities now have the opportunity to own their own cask of whiskey from Ahascragh Distillery and benefit from the growth and global demand of Irish whiskey. Founder Members have the choice to customise the spirit and cask, making this a unique and personal offering.
See ahascraghdistillery.com to download a brochure and find out more.
Irish Whiskey Magazine is the worlds only publication dedicated to sharing authentic insights into the exciting world of Irish whiskey.