Gin – Licensed & Catering News (LCN) – News Coverage from the Local Trade

Hinch Distillery records £2m loss as stock value soars

Joe Kearney — Tue, 09 Apr 2024 10:53:27 +0000

Hinch Distillery recorded an operating loss of £2 million last year, new accounts show.

The business, which produces its own Irish whiskey brand Hinch and Ninth Wave Gin, was launched by serial entrepreneur Terry Cross and opened in 2021 on a site between Carryduff and Ballynahinch following a £15m investment.

Invest NI’s support included £1.9m toward the construction of the distillery as well as plant, machinery and equipment.

The latest accounts published on Companies House show Hinch Distillery Ltd has been running at a loss since 2000.

The whiskey and gin operation recorded an operating loss of £2.1m for the year ending June 30 2023.

It brought the total losses for the three years ending June 2023 to £4.2m.

But Hinch has continued to build up its own stock of Irish whiskey in that time, which is accumulating value as each year passes.

Its latest accounts show the value of the distillery’s stock has increased by £2m per year in each of the past two financial years.

The latest accounts show the value increased from £5.5m in 2022 to £7.4m at the end of June last year.

The growing value of its spirit stock has helped Hinch narrow its liabilities, which fell from £9m in 2022 to £6.4m in the 2023 accounts.

James Nesbitt (right) with radio personality Pete Snodden, launching Hinch Distillery’s 15-Year-Old Oloroso Sherry Cask Finish Irish Whiskey at a recent event in Belfast

The report states that the company continues to depend on the support of Dr Cross and his family as it builds up its growing portfolio of Irish whiskey products.

“The company meets its working capital requirements through financial support from its parent company and is dependent on this continuing support,” it states.

“Cross Family Group Holding Ltd, the parent company, has further agreed to support the company throughout the succeeding 12-month period.”

Dr Cross, who co-founded the Delta Print and Packaging company in Belfast in 1981, later sold the business to Finnish packaging giant Huhtamaki in 2016 in a deal worth around £80m.

Last the 73-year-old announced a £47m investment in a brand new packaging business in west Belfast.

Biopax is expected to create 169 jobs to the former Caterpillar site at Springvale Business Park by 2027.

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LCN Awards backing Mary Peters Trust

Joe Kearney — Tue, 12 Mar 2024 14:07:04 +0000

Licensed & Catering News has thrown its weight behind the Mary Peters Trust which aims to help young people, both disabled and able bodied, achieve their sporting dreams.

With Titanic Distillers lending its support to the Trust with its Golden Girl limited edition gin, the marriage between the charity and Northern Ireland’s only dedicated magazine for the hospitality trade makes perfect sense.

As such the Mary Peters Trust will be the charity partner for this year’s LCN Awards on June 7 at the Crowne Plaza Belfast.

Speaking about the decision, Bill Penton said: “Choosing such a great organisation that helps so many young people was a no-brainer and the fact we can help them on the biggest night in Northern Ireland hospitality is an added bonus.

“I’d encourage everyone at the Crowne Plaza on the night itself to get behind this great cause.”

The Golden Girl limited edition gin was inspired by legendary Olympic Gold medallist Lady Mary Peters and celebrates her 50 plus years since the 1972 Munich games.

All profits made from sales will be donated to Mary Peter’s Trust which provides funding support for young athletes across Northern Ireland.

Carefully crafted, The Golden Girl flavour profile is juniper forward with a bouquet of flowers and earthy base. On the palate, it has bright and citrusy sweet kaffir lime leaf rounding it off.

Thanking Titanic Distillers for their support, Lady Mary Peters said: “This is a one-off opportunity to buy a very special gin, the proceeds of which will help our athletes of the future to compete with the best in the world.”

“I’m so pleased that Titanic Distillers directors Peter Lavery, Sean Lavery, Stephen Symington and Richard Irwin nominated the Mary Peters Trust as their first corporate charity. In the words of our Trust strapline, their donation will be very much, for the Spirit of Sport.”

The Golden Girl Gin retails for £36 and can be purchased online at www.thegoldengirlgin.com or from Titanic Distillers at Thompson Dock, Queen’s Road, BT3 9DT.

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Connswater Whiskey to be revived at Rademon Estate

Joe Kearney — Tue, 16 Jan 2024 16:27:40 +0000

Whiskey produced in what was once one of the world’s largest distilleries is set to be revived by Rademon Estate in Crossgar.

Master distiller of Shortcross spirits David Boyd-Armstrong, a leading innovator, and wife Fiona, the managing director, have been quietly working with the original mashbill (recipe) to rejuvenate whiskey from the Connswater Distillery in east Belfast, part of the city’s great heritage of distilling. Belfast was once the island’s biggest whiskey producer.

East Belfast born David, elected in December as chair of Drinks Ireland, the body which promotes Irish whiskey, explained: “We’ve been developing the lost Connswater whiskey since 2020. And now after almost 100 years we can say Connswater is back! It’s marvellous to be able to revive one of the great whiskeys from the city’s golden age of distilling.”

Connswater, once located on 12-acres near the Connswater river produced two million gallons of whiskey a year and used river barges to bring in barley and other raw materials and then to ferry the whiskey barrels to ships anchored in Belfast Lough for export to the US in particular.

The distillery had been founded in 1886 by whiskey blenders and was one of two successful operations in east Belfast, the other being Avoniel, a producer of spirits for leading gin and whiskey specialists in Britain. Avoniel distilled around 850,000 million gallons of whiskey a year.

The mashbill from Avoneil was subsequently used to produce Belfast 1912 gin.

They were among 18 distilleries in Belfast.

The introduction of prohibition (the ban on alcohol in some American states) in 1919 caused a massive drop in sales of Irish whiskey, then the market leader. Connswater and some other Irish whiskeys were acquired by Scottish rivals to protect their sales and subsequently closed in the 1920s. Connswater and Avoniel both ceased production in 1929.

Shortcross expects to launch the revived Connswater whiskey, which is maturing in casks at Crossgar, within the next few months.

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Echlinville Distillery acquires historic Ards Malting building

Joe Kearney — Tue, 10 Oct 2023 14:02:50 +0000

Echlinville Distillery has bought the historic Ards Malting building on Portaferry Road.

The Kircubbin-based business acquired the landmark property following a £5m investment from the Bank of Ireland into the company.

The premises were on the market last year through estate agency Simon Brien for an asking price of £1.35m. It’s understood the sale completed in October 2022.

Once one of Ireland’s largest malting houses, it is now set to be restored and used by the business for its original purpose, with Echlinville reviving the malt-making process at the location and increasing their ability to malt barley grown nearby using traditional methods.

Before ceasing business in 1986, Ards Malting provided malted barley to distilleries and breweries around Ireland, including Guinness, Bushmills and Comber Distilleries — the home of Old Comber Whiskey, a brand which is now produced by Echlinville.

Just over a decade ago, Echlinville was granted its distilling licence and became the first new distillery in Northern Ireland for more than 125 years.

Having filled their first whiskey casks in 2013, the business is home to some of the country’s much-loved brands such as Jawbox Gin, Old Comber Whiskey and Weavers Spirits.

In 2018, ‘The Maltings’ premises had been granted planning permission for proposed retention conversion and extension of the building to be replaced by 27 apartments. However, the redevelopment did not go ahead.

Echlinville’s investment will mean the business will be the only distillery in Ireland to handle every step of making whiskey, from growing barley to producing the final product.

At present Echlinville grow barley on their farm and do some small-scale malting, but this investment will allow them to malt barley at an industrial scale.

Shane Braniff, owner of The Echlinville Distillery, said: “Locally we have a long history of quality whiskey production. The Ards Peninsula has historically been known as one of the finest grain growing regions in Ireland, so it’s no coincidence that Ards Maltings was established at the northern end of the peninsula, malting barley from the surrounding farms and becoming one of the country’s largest malting houses.”

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New Hinch Cafe another string to distillery’s bow

Joe Kearney — Mon, 11 Sep 2023 14:33:51 +0000

Celebrated whiskey and gin producer Hinch Distillery has opened its latest venture the Hinch Cafe in the picturesque outskirts of Belfast en route to Ballynahinch.

Open from Wednesday to Sunday, between 10am and 4pm, the cafe offers a warm atmosphere, a variety of drink and snacks, and is also a dog-friendly destination.

In addition to the cafe, the Hinch Distillery Visitors Centre offers an award-winning tourism experience with its whiskey tours (Wednesday to Sunday, 10am to 5:30pm) and the Gin School Experience (Friday and Saturday at 5:30pm, Sunday at 2pm). The cafe complements these attractions.

Harriet Finnigan from the Hinch Cafe said: “Our cafe adds a new dimension to our business. It’s open for casual visitors and events in conjunction with tours, providing a memorable experience.”

Cyclists exploring the area can also enjoy the cafe’s courtyard and secure bike parking. Hinch Cafe caters to a diverse audience, retaining its core visitors while attracting new groups seeking a unique experience.

In the spirit of celebration, Hinch Distillery has also announced its success at the Meiningers ISW Awards 2023. Its Craft & Casks Imperial Stout Finish Whiskey has earned the esteemed title of Best Blended Irish Whiskey, a recognition of the distillery’s dedication to craftsmanship.

Additionally, the 10-Year-Old Sherry Cask Finish and Peated Single Malt have received Grand Gold and Gold awards, respectively, further cementing Hinch’s reputation for exceptional quality.

“We are proud to be acknowledged among the industry’s finest. These accolades reflect our dedication to excellence, and we look forward to welcoming even more visitors,” added Darren Cosgrove, one of the cafe’s managers.

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