Major funding for whisky firm

THE company behind single malt whiskies Old Pulteney, Balblair and anCnoc is set for major expansion after gaining access to £45 million in funding from Bank of Scotland.

The asset-based lending (ABL) facility, secured against the company’s whisky stocks, will provide Inver House Distillers with access to working capital, allowing the company to grow its presence in overseas markets including India, Kazakhstan and Poland.
The business has invested significantly in its whisky storage facilities in recent years.
Inver House financial director, Roger Hall, said: “We are an ambitious business looking to increase our share of a growing global market.
“The ABL facility provides greater flexibility with supply of new whisky casks and complete business transactions more efficiently.
“The new facility is significantly better value for us. It gives us access to the most cost-effective borrowing, which is crucial to our business. It also helps us to continue investment in our whisky stocks, which will see our brands grow over the next 12 years and beyond.”