has announced a strategic collaboration with Florida based List Distillery LLC (“List”). Under the collaboration agreement, the Company will supply List with high concentrate London Dry Gin, which will be bottled and marketed by List under the “Keepr’s" brand in the US. The agreement provides the Company with cost-effective market entry through access to List’s extensive distribution network which covers more than 12 States across the US.
The two Companies already have an established trading relationship, with British Honey purchasing List’s bourbon, American whiskey and rum which it bottles and sells in the UK under the Keepr’s brand. The Company will use its master distiller to enhance List’s imported Rum, American Whiskey and Bourbon to suit the UK market.
The collaboration has already proved successful with the following awards received at the 2020 San Francisco World Spirits Competition held earlier this month;
In addition, the Companies are working together to develop Alcohol Sanitiser and are now supplying medical services in both Florida and the United Kingdom. The Company was granted HMRC authorisation to produce denatured 70% ABV Alcohol Sanitiser earlier this month. Initial orders of the ‘Drip and Drop’ product have been particularly strong due to the shortage of sanitiser product in the UK caused by the COVID-19 outbreak. All spare production capacity at both distilleries has been turned over to the manufacture of this product and the Company is currently exploring other methods of producing an active alcohol sanitiser.
Termination of JV with Distil
Finally, due to the COVID-19 outbreak the Company has reviewed its operational focus. As a result, the board has determined that the Company’s main focus will now be on market-ready or near market-ready alcoholic beverages and sanitiser and has decided that the development of untested alcoholic products is not an operational priority at the present time.
It has therefore served notice on(AIM: DIS ) to terminate its joint venture agreement to produce a new botanical vodka. No funds have yet been expended developing this new product under the joint venture. The Company remains committed to the development of further new products in the future.
Michael Williams, BHC CEO, commented: “As part of our planned international sales drive and expansion I am delighted to announce this strategically important Collaboration Agreement with List, further developing our trading relationship. It will enable us to extend our global reach and take advantage of significant growth opportunities in the US. The team at List are renowned distillers with excellent knowledge of the infused spirits market in their home country. Meanwhile, both Distilleries are co-operating in the manufacture of alcohol sanitiser. Daily conference calls between the respective management teams are taking place, sharing experiences and product modification, demonstrating the already close affiliation we enjoy.
Whilst we are disappointed to have to put on hold the development of new drinks products, our energies must now be devoted entirely to market-ready or near market-ready products. This includes the production and supply of alcohol sanitiser as part of our programme to support the NHS and other institutions in need of immediate supply. BHC have enlisted the help of Dr George Tranter of Chiralabs Limited, Oxford, in exploring the development of new products that will help in this national emergency.
I would also like to take this opportunity to thank all of our staff and, particularly, Jamie Baggott, our Master Distiller, and Thomas List for the fantastic results at the San Francisco World Spirits Competition this year. This is further recognition of quality of our Keepr’s and List Spirits”
Thomas List, President and owner of List Distillery added: “We at List Distillery are very happy to have found a business partner like BHC which shares our passion and enthusiasm for the opportunities existing in the global spirits market. Besides our common business strategies, we also share similar values in wanting to give something back to our communities by jointly producing Alcohol Sanitiser, donating to the public and supplying the medical community.
We believe this Collaboration will allow us both to exponentially grow our respective businesses.”
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