Founders of Sliabh Liag Distillers, Moira and James Doherty,
Sliabh Liag Distillers, today, (Tuesday), announced it is seeking €1.5m in investment via crowdfunding to fuel the next phase of its expansion.
The Crowdcube campaign will launch on Wednesday next, August 26 and run for four weeks. Pre-registration is now open at www.sliabhliagdistillers.com/crowdfunding.
This fundraising round will allow Sliabh Liag Distillers’s growing band of followers to join a select group including a drinks industry multinational (Asahi), sophisticated investors and Donegal locals as investors in a sector that has doubled in size over the last decade.
The investment will be eligible for EIS tax relief in the UK (EIIS tax relief in Ireland) and will come with a range of rewards from having your name etched on a copper still for all time to receiving a bespoke Donegal 'Silkie’ fishing fly.
The opportunity is set to attract many sophisticated investors from amongst the Irish diaspora, drinks enthusiasts and others looking for interesting long-term investments.
Sliabh Liag Distillers was founded by two Irish ‘scatterlings’ (returnees) with a simple aim: to reclaim the distilling heritage of Donegal and recreate the rich authentic spirits of the area from a time before the industrial revolution.
Its husband and wife founders, James and Moira Doherty, want to make the Sliabh Liag peninsula to Irish whiskey what Islay is to Scotch.
Since inception, Sliabh Liag Distillers has grown from strength-to-strength, meeting demands from the international premium drinks sector for a better selection of authentic Irish whiskeys.
The sector has been dominated by a handful of mainstream brands for a century, but in the last decade, a renaissance of unique, small-batch spirits, has seen it double in size.
Sliabh Liag Distillers is creating a new area of growth with its distinctive tasting products that are gaining cachet among Ireland's most renowned food critics, chefs and restaurateurs, alongside a sizable social media following and international press coverage.
It is this hard-earned prestige and following that will, by Autumn 2021, see Sliabh Liag Distillers commence its phased move to Ardara, its new headquarters and future home of its current five exciting brands, and many new ones to come.
Work on the site is already underway, and will increase the company’s production capacity to 500,000 litres of alcohol per annum with room for expansion, as it anticipates growing international demand.
Accompanying the renaissance of Irish whiskey has been a resurgence of whiskey tourism. In time, the site at Ardara will feature tiered levels of tours that will take visitors through the distillery, the distilling process, the history of whiskey and local poitín-making, alongside the heritage of the area.
James Doherty, managing director of Sliabh Liag, said: “We are reclaiming the distilling heritage of Donegal and in doing so we have founded the first legal whiskey distillery in the county for over 175 years.
"Both my grandfathers were illicit poitín men. This is in my DNA. It is my legacy and one that I think my grandfathers would be proud of.
“I want to share this legacy – this opportunity to cement artisan Irish whiskey as the world’s best – with those who want to come along with us on this exciting journey through Ireland’s long, almost lost distilling heritage. Join us, or as we say in Irish, ‘Bigi Linn’.”
Moira Doherty, director of Sliabh Liag, said: “It’s been an interesting year to say the least. On one hand we pivoted into making hand sanitiser for the community here in Donegal, while on the other we laid down the first barrel of smoky single malt Irish whiskey in the county since 1841.
“The Ardara distillery is the natural next step in our journey to revive the Irish whiskey tradition; to bring it back to the communities while taking the name of Donegal to the furthest reaches we can.
"After a century where a few big players have dominated, this is a real chance for you to get involved in bringing it back home where it belongs – it will be a part of your story and legacy as much as it is our own.”
Shares are priced at £75.00. Total valuation of Sliabh Liag Distillers is £14,988,300.
The share class offered to investors on Crowdcube are A Ordinary Shares with pre-emption and voting rights. The shares will be issued to Crowdcube Nominees Limited to hold the shares on behalf of investors.
Five share classes exist:
Founder Ordinary, two votes per share, pre-emption rights over all classes of shares
A Ordinary, one vote per share, pre-emption rights within own class
B Ordinary, no votes, pre-emption rights within own class, put call agreement
C Ordinary, no votes, pre-emption rights within own class
5% Cumulative Redeemable Preference Shares
Specific advice should be sought prior to making any investment in Sliabh Liag Distillers DAC, based on the particular circumstances of a prospective investor. This is not a regulated investment and investment is only appropriate for investors who have a high attitude to risk.
For investors in Ireland this is not an offering for the purposes of Section 68 of the Companies Act 2014.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.