Whisky 1901 is moving the casks owned by its 250 plus investors to the facilities in Glenrothes, including one on Southfield Industrial Estate. The barrels will be transported from 50 Scottish distilleries over the next 12 months.
The move will improve cask management and provide investors with greater transparency over the performance of their portfolios, regardless of the distillery of origin.
Typically, whisky casks lose around 1-2% in ABV – alcohol by volume – per year. If this number falls below 40% the product can no longer be called Scotch and its value diminishes significantly. Housing the casks together will enable Whisky 1901, holder of Warehouse Keepers & Owners of Warehoused Goods Regulations licence (WOWGR) to better control and monitor cask credentials, particularly the all-important ABV and liquid levels. In addition, the wood, size of barrel, and where the casks are stored, including humidity levels, can all greatly affect the value of the maturing spirit, and must therefore be carefully administrated.
Akin to regular health checks, regauge reports rely on barrel samples to reveal the true value of a cask based on ABV and liquid levels. With all casks easily accessible and digitally managed within the Glenrothes facilities, the time taken to acquire samples will be significantly reduced, from around three to six months when requests are made via third-party distilleries, as is currently the case, to a matter of just weeks. The results of the regauge reports help provide a greater understanding of the longevity of a cask, enabling Whisky 1901’s consultants to best advise clients on how long they should invest their money for and the right time to bottle the product.
In addition, the process of re-racking – the term used for moving whisky from one cask to a finishing barrel, for example an ex-sherry or rum cask, to improve its flavour profile and increase its value and desirability – can be completed with ease in the bonded facilities.
Whisky 1901’s investors will also be able to visit their casks in the Glenrothes facilities as well as being able to access their own portfolios virtually 24/7 via an online account.
Aaron Damiano Sparkes, founder, said: “Ensuring casks are professionally managed is one of the most important considerations when it comes to investing in whisky casks.
“Getting this wrong could be a costly mistake, particularly if ABV and liquid levels are allowed to drop below a certain level. By relocating our barrels to new facilities offering the latest in digital technology we’re able to further improve how we manage casks on behalf of our investors, as well as enriching the experience we offer our clients. The move not only gives us tighter control over the maturing product, including tracking, re-racking and bottling, but our clients benefit from greater transparency in their investments via private online accounts.
“We understand just how important it is that people have peace of mind that their investments are secure, and we’re committed to ensuring that we are the safe haven for whisky investment in this growing market.”
Find the Fife Press Release Here