Reefton Distilling Co. is a local West Coast start-up with a big vision. A team of likeminded individuals who are passionate about creating high quality spirits, passionate about Reefton, and passionate about contributing to the revitalisation of the West Coast.
Located in the heart of Reefton, on the wild West Coast of New Zealand they take their inspiration from Reefton’s rich history of adventure, innovation, and gold, they see it as the perfect place for making untamed spirits. Their market research has shown that there is an opportunity to create a true ‘grain to glass’ distillery in New Zealand, an offering which will truly set them apart.
Reefton Distilling Co. is raising up to $1.5m for a shareholding of 42.9% at a pre-money valuation of $2m, through the online equity crowdfunding platform, Snowball Effect. The funds raised through Snowball Effect will be used for the fit out of the distillery, equipment, staff, and working capital. Director and Co-founder Patsy Bass noted that “we expect that we will need to raise additional capital to scale up operations further after the first 12-18 months of production”.
They already have commitments from a number of large investors who will also be actively involved in supporting the business and the Snowball Effect crowdfunding equity offer is currently underway. When asked the reason for raising funds by this method, Patsy said, “Because we want our community to own this business and share in its success.”