British Honey Company, the premium British Honey and Infused Spirits brand, today announces the Company’s intention to seek admission to trading on the NEX Exchange Growth Market. The Company intends to raise up to £ 1.5 million by way of a Placing. Admission is expected to occur in March 2020.
Investment Highlights
- BHC has established and owns a number of spirit brands, including the award winning premium brand Keepr’s with an established market presence through supermarkets (Waitrose, Majestic and Amazon) and specialist outlets (Not on the High Street, Masters of Malt and HT Drinks), differentiated through the development of new products and by using honey produced by the Company;
- BHC has invested in a modern production facility including a distillery with a computer-controlled 1,000 litre still and bottling plant capable of producing approximately 1.5 million bottles per year at capacity;
- BHC has a HMRC compliant bonded warehouse for the storage of its own and third-party products which the Directors believe provides significant cash flow and supply chain advantages over many smaller craft producers ;
- BHC has built a bespoke, end-to-end IT platform capable of supporting the entire business, including full traceability of production from still and hive to bottle and jar;
- BHC is one of the leading independent producers of natural British honey in the UK, producing around 7 tonnes of British honey per year;
- the distillery is operated by the multi-award-winning master distiller, Jamie Baggott, who has developed the current range of products to meet evolving trends and demographics in the market;
- BHC is run by a skilled and knowledgeable Board, with experience across the drinks sector and M&A, supported by a talented and driven management team;
- the Directors believe the Company is well positioned to develop a buy and build strategy by acquiring other gin or spirit producers in a consolidating UK market;
- it has a partnership with the Tusmore Estate where it maintains most of its hives and where it is intending to establish a whiskey distillery and bonded warehouse;
- it has obtained the Safe and Local Supplier Approval (“SALSA”) accreditation which ensures the highest quality of safety and assurance from all of the Company’s products and manufacturing process; and
- it has received advanced assurance for EIS investment.
Michael Williams, British Honey Company Founder and CEO, commented:
“We are delighted to be announcing our intention to float on the NEX Exchange today. Access to further funding as a listed company will enable us to roll out our buy and build strategy of acquiring smaller gin and spirits businesses that can benefit from our state of the art production facility with a 1,000 litre still and bottling plant capable of producing approximately 1.5 million bottles per year.
The Company strategy is complemented by a first-class management team with considerable track records not only in the drinks and retail industry but also with extensive M&A experience. As a result, BHC has seen considerable progress in recent months with our acquisition of certain assets of the London Distillery Company and the first shipment of products to the US. “
