IPO of The Artisanal Spirits Company

Deal typeCapital Markets & Private Equity & Transaction Services
IndustryLeisure & Manufacturing
Sub-industryFood and drink & Restaurants & Bars
Client nameThe Artisanal Spirits Company plc

The Scotch Malt Whisky Society's owners, the Artisanal Spirits Company, has announced the admission of its entire issued share capital to the London Stock Exchange's Alternative Investment Market (AIM).

The shares were priced at 112p, giving it a value of £77.96m. The Initial Public Offering raised £26m from an issue of 69,605,774 ordinary shares, including gross proceeds of £15m for the company and £11m for certain selling shareholders.

The net proceeds, together with existing long term debt facilities, will primarily be used to fund further investment in whisky and other spirits stock, along with cask wood, the promotion of membership and business growth, existing and new venues, brand and digital development, and supply chain optimisation.

Headquartered in Edinburgh, the Artisanal Spirits Company engages both spirit and cask selection in active management of the maturation process.

The Scotch Malt Whisky Society was founded in 1983 and currently has a worldwide membership of approximately 28,000 paying subscribers and a presence in more than 30 international markets.

BDO acted as Reporting Accountant on The Artisanal Spirit Company PLC’s Admission to the AIM market in June 2021. As a trusted advisor, BDO provided us with insight, support and advice to help us deliver a successful IPO, allowing the company to raise all of the funds we wanted to support the future growth, while achieving the valuation that was in the target range. Overall a great success! Thanks to Amer, Sarah, Craig and the rest of the team. 

Andrew Dane, CFO