Arran has made the move after failing in an attempt to develop the site of the former Rosebank distillery in Falkirk to produce its own whisky and house a new brewery and bottling facility.
Its investors withdrew their support for the Rosebank plan after a local authority report cast doubt on the potential outcome of a planning application.
Managing director Gerald Michaluk said: “Our investors are willing to support us in the purchase of Bladnoch.
“We will know in the next few weeks whether our bid is going to be taken any further.”
Arran has raised £260,000 from investors, including brewery staff, in the first stages of a £4 million share scheme to support its ambitious expansion plans.
The company has already bought a former hotel to refurbish as Loch Earn Brewery and an ex-school in Ayrshire to be turned into a saké brewery.