Be part of our journey
become an
INVESTOR
INVEST AND BRING back quality, creativity and sustainability into the rum market
Traveling the world and working in the best bars and restaurants, we got really passionate about working with fresh ingredients and high-quality sustainable products.
One day we looked around and got frustrated with global rum brands looking to reduce costs by cutting corners in production and replacing natural ingredients with cheaper artificial flavours.
This led to our mission to bring back quality and creativity into the rum market. Using unique single-origin rums and infusing them with high-quality, responsibly-sourced natural botanicals.
We're built on the belief that
strength lies
in unity
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Spirited Union is an Amsterdam-based botanical rum brand with a strong reputation for excellent, award-winning, botanical rums – as well as innovation and creativity in the spirits industry and a unique positioning in the market.Â
To fund the business’s growth and launch in the US both with our range of rums and RTDs, we are seeking to raise working capital.
Spirited Union is built on the belief that strength lies in unity. It’s why we’re launching a share-funding campaign which allows for fans, friends and family to become part-owner of the company.
Our journey so far
since 2017
Since the company began trading in early 2017 we’ve been busy with:
- Developing a botanical rum brand and range of products that completely rewrite the language and behaviour of rum
- Delivering a five-fold increase in volume and revenue in the midst of a pandemic (2021);
- The acquisition of our brand home and fully functional distillery in Amsterdam (which turbocharged the development of new products and product lines – and inspired thousands of consumers to explore botanical rum.)
- The planting of the Spirited Union flag in 22 markets (+15 new markets in the midst of a pandemic ’21-’22)
- Creating a values-driven team with expertise and proven success in the spirits business.
We are currently working with some of the best retail companies in the Netherlands (Nation-wide distribution in the Gall & Gall, Hema, Sligro), and will soon launch across the USA with Wholefoods Market.
Our recent achievements
in 2022
In 2022, the distillery was running at full capacity and we frequently operated at maximum capacity.
- We have entered partnerships with HEMA, SLIGRO, COOP, SAQ CANADA and WHOLE FOODS MARKET, among others. We have also strengthened our relationship with Gall & Gall and will add another 440 listings to our existing business in 2023.
- Due to increasing energy and raw material prices and inefficiencies in our eco-footprint, we have started to outsource the filling of our products. This way we can continue to grow undisturbed through external production and also make our supply chain more sustainable by partly filling in America.
- To reduce our carbon footprint, we have switched to a lighter and more compact bottle. This ensures 31% less weight and less CO2 emissions.
- To raise money for Ukrainian charities, we developed a non-profit rum, which raised €28,000.
- After a lengthy certification process, all our products are TTB and FDA approved for export to the US.
- In 2022, we will have grown by more than 600% in turnover compared to pre-covid (2019) – despite large-scale shortages and production challenges.
- Growth in 2023 will come from strengthening our relationships with our distributors, a dedicated team of 10 professionals, innovations such as our plant-based Honey Rum and a unique Reserve Collection for sipping occasions.
The global opportunity for
Botanical rum
Rum is one of the oldest and largest categories of distilled spirits. With different subcategories, it appeals to different target groups, with different incomes. In recent years, the overall category has been growing strongly and we’re riding that wave of growth well.
A development we have seen develop over a number of years is the growth of the super-premium rum segment in Europe – currently growing by an average of 18%. And, in America, the category grew by 27% over the same period. We are responding to this growing segment by launching a new line of super premium botanical rums with partners in our strategic countries.
In the UK in 2022, we will see the total value of the rum category pass £1 billion and as a result, rum is now bigger than whisky. A large part of the growth has been driven by the Spiced/Flavoured segment and we’ve been proactive in addressing this. By working closely with our UK distributor, we’ve co-created ‘Good Spiced’ – a rum that appeals to multiple retailers and outlets across the country.
What YOUR INVESTMENT WILL DO
LAUNCH AND ACTIVATE THE BRAND IN CALIFORNIA USA.
With a growing demand for natural and high quality rums, we will be launching in Wholefoods California with our botanical rum range. To keep momentum and increase rate of sale we will invest in marketing and support.Â
LAUNCH RESERVE COLLECTION in 5 KEY MARKETS
To tap into the growing super-premium rum segment (+27% in 2022) we have developed the reserve collection. To keep up with demand and increase our margins, your investment will help us scale up production.Â
SCALE UP AND COMMERCIALIZE IN STRATEGIC MARKETS
Invest to fuel growth in lighthouse markets by increasing marketing & promotion with our key distributors.Â
QUESTIONS
Botanical rum is a rum that is re-distilled or infused with botanicals such as citrus, fruit, herbs and spices to create a refreshing taste that is perfect for mixing.
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At Spirited Union, only fresh and high-quality botanicals are used to give the rum ranges a natural and delicious taste. The fruit is processed whole at the distillery, just before the re-distillation and maceration process with the rum, in order to preserve the essential flavors and aromas.
The unique method of distilling with botanicals has been patented and Spirited Union is proud to introduce Botanical Rum to everyone.
Spirited Union is strongly committed to responsible and sustainable business practices and we have taken several initiatives to make our products and production methods as sustainable as possible. Our bottles are made by hand to ensure we can maintain product quality and create as little waste as possible. We have also invested in automation where it improves the quality of our product. In addition, our distillery is fully powered by solar energy, we reduce our use of plastic and work with sustainable manufacturing partners to create the most sustainable supply chain possible.
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We also like to contribute to society, which is why we produce a specific Non-Profit Botanical Rum, part of whose proceeds go to an initiative that helps us make the world a little more beautiful. In this way, we want to offer not only high-quality drinks, but also a positive impact on the planet and society.
When you invest in Spirited Union, you are buying a certificate of a share from Stichting Administratiekantoor Spirited Union Holding Co B.V. Officially, you are not buying a share, but a certificate of a share, which is similar to a share. By buying a certificate you are economic co-owner of Spirited Union and are entitled to dividends (profit distribution) if the board of Spirited Union Holding Co B.V. and the shareholders’ meeting agree. In addition, you can benefit from any increases in the value of the certificates.
Stichting Administratiekantoor (STAK) Spirited Union Holding can best be seen as an ‘intermediary’ that acts as the administrator of the shares. The STAK separates the voting rights from the profit rights which ensures that you, as an investor, have no voting rights, but can participate in the success of Spirited Union, and share in the economic results.
To further spread the brand and vision, Spirited Union is selling a part of its shares. At Spirited Union we stand for cooperation, this is why we are taking this step. With the investments we want to increase our market share at home and abroad, with the United States being our main target market. We also want to increase our production capacity and develop new flavors.
Together we want to explore new markets and position ourselves as pioneers in the world of rum, with a fresh perspective on a drink that is often stuck in old patterns of thinking.
We strive for transparency in our campaign and believe it is important to provide clarity on the valuation. Our advisors and specialists have calculated the value of Spirited Union Distillery B.V. based on the business case for the next 5 years. After using the discounted free cash flow method and the market multiples method, the pre-money valuation of Spirited Union’s equity was set at €6.5 million.
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Although Broccoli does not account for the valuation of the shares, they do check whether the valuation is acceptable and we enter into discussions about it if the valuation is not accepted by Broccoli’s board. Together we seek consensus on the valuation until an acceptable level is reached.
Spirited Union’s goal is to raise €1,000,000 in funding. To achieve this, 10,000 certificates will be issued at €100 each, representing 13.33% of Spirited Union. For an investment of €1,000, the investor will receive 10 certificates.
This is possible. To make a business investment on the Broccoli Platform you first need to create a business account and pay the investment with your business bank account. After successful completion of the payment, you have made a business investment. If you have any questions, please contact support@broccoli.eu.
Tax wise, it depends on your situation. Generally speaking, the proceeds of your investment are taxable within corporate income tax. Both dividends received and capital gains realized constitute taxable income for the B.V. and are subject to corporate income tax. This corporate income tax in 2023 is 19% up to a profit of €200,000, above that it is 25.8%.
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When dividends are paid out, withholding tax is also withheld which can be offset as an advance on the corporate tax due.
This is not tax advice and we advise you at all times to contact your tax advisor or research this yourself.
Yes, the Stichting Administratiekantoor Spirited Union Holding is a Dutch entity, incorporated and registered at Sterel in Amsterdam and is subject to Dutch law. The sharefunding round of Spirited Union will be notified to the AFM (Autoriteit Financiële Markten). This document can be found in the heading ‘documentation’ on the platform Broccoli, or in our public folder in this link. Please read this document carefully before you finalize your investment.
As of June 1st it is possible to invest in Spirited Union and you can become a co-owner from €1,000. Before the investment round starts you have the possibility to reserve certificates. This gives you, together with other reservers, the exclusive opportunity to redeem your reservation during 48 hours. After this period anyone can invest in Spirited Union.
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The sale of the certificates goes entirely through the platform Broccoli, which focuses on sustainable companies in the food and agri sector. The platform brings entrepreneurs and investors together and offers companies the opportunity to use their equity capital for sustainable growth.
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After you purchase certificates in Spirited Union, you will receive an email from Broccoli with your proof of investment. This serves as confirmation of the successful transaction and contains information about your purchase for your own records. The certificates will then be visible in your dashboard. The administration of your certificates will also take place on Broccoli.
Selling shares is possible when the so-called ‘time-lock’ has expired. In the case of Spirited Union the time-lock is 2 years (730 days). After these 2 years you can offer your certificates on the Broccoli board. This can be done by ….
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The bulletin board to offer shares to other co-owners works as follows:
The moment you decide to sell your shares you can offer them to other Broccoli users on the notice board. So it is not like the stock market, that a ‘sell order’ can be placed and this is done automatically.
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Spirited Union determines within which bandwidth an offer can be placed. This bandwidth is based on the latest company valuation which in turn is based on the latest financial performance and market segment. As a seller you determine the sales price within the set bandwidth. The potential buyer can place bids on this; it is ultimately up to you to accept the desired offer.
Broccoli charges a transaction fee of 2.5% of the total sale price to you, the seller.
It is important to emphasize that the return on investment can never be determined in advance. However, as a co-owner, there are two ways in which you can potentially earn a return:
 – Dividend payment; this is determined each year after the annual figures are determined. The board of Spirited Union chooses during the shareholders meeting whether the profits will be distributed or invested back into Spirited Union.
– Profit when you sell your certificates; when value is added to Spirited Union, this will influence the turnover and results and thus the value of the certificates you bought.
No. The Broccoli platform charges transaction fees on the sharefunding round to the seller, in this case Spirited Union. So you, the buyer, do not pay any transaction or issuance fees.
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Note: if you decide to sell your certificates, you, as the selling party, pay the transaction fee. This is 2.5% per transaction over the selling price for administrative handling. The buyer again pays nothing.
As a certificate holder you are exempted from liability at all times. As a result, as an investor in Spirited Union, you can never be held responsible for decisions Spirited Union has made in the past or will make in the future.
There are always risks involved in any investment, invest only with money you can afford to lose. Spirited Union takes into account risks they face that may ultimately have a negative effect on Spirited Union’s bottom line and value. These negative effects may also affect the value of your certificates.
– Sales falling short of expectations, which may or may not be combined with higher costs resulting in lower than expected profits;
– The loss of suppliers from abroad;
– The loss/death of founder(s).
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The Key Investor Information Sheet, which can be found under ‘documentation’ on the Broccoli platform, or in our public folder in this link, explains more about these risks and Spirited Union goes into more detail about the specific risks and precautions related to them.
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For your own records, you will receive a proof of investment immediately after purchase. In addition, Broccoli offers the ability to run an export of your transaction(s) at any time of the day.
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On January 1st of every new year you can also export your annual statement from the Broccoli platform. This is an overview of the number of certificates in which company and at what value you own these certificates. You can use this information for your own administration or for your tax return.
For questions regarding the administration of your certificates you can contact Broccoli by sending an email to support@broccoli.eu.
The moment you have investments, you have to declare the value of your investments. The investments on Broccoli do not fall under ‘green investments’ so you cannot get an extra exemption or extra tax credit for them.
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Part of your capital is exempt from tax; the tax-free capital. The value of the certificates falls in Box 3 (benefit from savings and investments), here a so-called levy-free capital rate of at least €57,000 (and €114,000 if you have a tax partner) applies in 2023. Find a tool from the tax authorities to calculate your box 3 income here. On your income from assets, unfortunately, you pay tax. In the case of an investment like this, we’re talking about “Investments/Other assets,” where the taxable rate is 6.17%. You will pay 32% tax as of 2023 on the 6.17% rate on the total returns earned in 2023.
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For more information on how to calculate your Box 3 assets, we would like to refer you to the site of the relevant tax authorities.
This is not tax advice and at all times we recommend that you contact your tax advisor or research this yourself
