Spirits of Virtue, the award-winning non-alcoholic spirits company based in Clydebank, has achieved a ‘significant milestone’ with the valuation of its intellectual property at £3.5 million by Metis Partners.
Founded by brothers Roddy and Kerr Nicoll in 2018, the venture has gone from humble kitchen beginnings to employing a 20-strong workforce, shipping its premium whisky, vodka, gin, rum and tequila alternatives to 16 countries.
As part of its growth strategy, SoV is now seeking new investors through a crowdfunding campaign to expand its global footprint – and the £3.5 million valuation by international IP assessment firm Metis Partners has helped that effort by quantifying its market potential in the rapidly expanding non-alcoholic sector.
Co-founder Roddy said: “My brother and I are so proud to be crafting and shipping our adult beverages from our company headquarters on the banks of the Clyde to a growing number of countries. But this is just the beginning.
“We’re delighted with the IP valuation, which sets the stage for our new investment round. This investment will accelerate our mission to become the leading non-alcoholic spirits company in the world.”
With investment to date of almost £3 million, SoV has created and launched seven zero-proof brands, including Glen Dochus and SOBOUR, respectively homages to Scotch and American whiskey; USKO vodka alternatives; gin substitutes Pearsons Botanicals and CeroCero; 270 Botanicals alcohol-free rum; and Seven Giants, a take on tequila.
The crowdfunding campaign offers individuals the opportunity to become shareholders and participate in the company’s future growth. SoV has already entered a partnership with ASDA, producing an own-label range of non-alcoholic spirits for the UK supermarket giant.
