Distiller Inver House eyes expansion with £45m deal
Inver House Distillers, the whisky firm behind single malts including Old Pulteney and Speyburn, has struck a £45 million financing deal with Bank of Scotland.
The asset-based lending facility, secured against the company’s inventory of whisky stocks, will provide Inver House with access to funding to further develop its brands and support an overseas expansion push in India, Kazakhstan and Poland.
Roger Hall, financial director at Airdrie-based Inver House, which also produces Balblair and anCnoc, said: “The facility gives us access to the most cost effective borrowing, which is crucial to our business and also helps us to continue investment in our whisky stocks.”
Simon Woodcock, director of business development for Bank of Scotland, added: “Whisky is a key contributor to Scotland’s food and drink exports and the UK’s balance of trade and we are committed to working with the sector to help Scotland prosper.”