HONG KONG SAR – Media reach – July 27, 2021 – Rare Whiskey Holdings, a whiskey investment group managed from Hong Kong bought a 49% stake in the online whiskey auction site, Whiskey hammer, and its sister e-commerce company Still mind, paving the way for the worldwide expansion of the Scottish family business.
Li Hau TAN and Rickesh Kishnani, co-founders of Rare Whiskey Holdings
Rickesh Kishnani, co-founder of Rare Whiskey Holdings, is the entrepreneur behind the success of the Platinum Whiskey Investment Fund, the world’s first private equity fund to focus on rare single malt whiskeys. The Platinum Whiskey Fund, initially launched in 2014 in Hong Kong, has raised $ 12 million and is in the final stages of liquidation, with over $ 24 million.
Rare Whiskey Holdings also owns The Glenor Cask Company, which owns over 1,000 casks of maturing Scotch whiskey from a range of major distillery brands.
Private ownership of whiskey casks has grown in popularity over the past two years, particularly in Hong Kong and Singapore, with many private customers choosing to purchase a special vintage whiskey cask for long-term storage. or have their own private bottling to use as a gift.
The multi-million dollar investment and partnership will give registered members of Whiskey Hammer and Still Spirit exclusive access to a full range of keg opportunities.
Whiskey Hammer was started in 2016 by brothers Daniel and Craig Milne, from Macduff, near Speyside in Scotland, famous for the production of single malt whiskeys such as The Macallan, Glenlivet and Balvenie.
Whiskey Hammer hosts monthly online auctions dedicated to whiskey and other fine spirits, attracting customers from all corners of the globe. It has auctioned a wide range of whiskeys, both bottled and cask, with auctions of over £ 1million each month.
A recent feature included Black Bowmore ‘DB5’ 31-year collaboration with Aston Martin, distilled in 1964 and sold for a hammer price of £ 81,000 in March 2021.
Whiskey Hammer’s customer base is a large global network of whiskey enthusiasts who buy and sell on the platform, which has resulted in 70% revenue growth in 2020. A key driver of this growth has been Asian customers, with growth of 64% per year. , with Hong Kong, Singapore and Taiwan in the lead.
Whiskey Hammer moved in 2019 to a new purpose-built facility in Aberdeenshire, which also houses Still Spirit – a whiskey shop, e-commerce site and dram bar offering over 100 rare whiskeys to sample while overlooking the beautiful Scottish countryside. Rare Whiskey Holdings will offer personalized VIP whiskey tours to Scotland for Asian customers starting in 2022.
Rickesh Kishnani, co-founder of Rare Whiskey Holdings commented “Our investment group is proud to join the Milne family business and help expand it into Asia, where demand for whiskey continues to grow at a rapid rate. We are also excited to use this new partnership to provide Whiskey Hammer and Still Spirit members with exclusive access to our collection of aged casks. “
Daniel Milne, Managing Director of Whiskey Hammer and Still Spirit said: “This is a very exciting time for our company. The transaction means an important link with our new partner who will quickly bring the group a much larger presence across Asia as well as exclusive access to the kegs for our members. “
Legal support was provided for the transaction by Goodwin Proctor LLP (acting on behalf of the buyer) and Brodies LLP (acting on behalf of the sellers).