St Andrews’ Eden Mill Distillery has been acquired from administration, saving the jobs of all 42 staff.
On Tuesday of this week, 18th November, Eden Mill’s owner, St Andrews Brewers Limited, was placed into the hands of administrators following what was described as ‘a period of intense activity to restructure the business’, which had ‘significant debt’.
Kenny Craig and Kevin Mapstone of Begbies Traynor were appointed joint administrators of the business, and after an ‘accelerated marketing campaign’, secured a buyer for the business and its assets, in the shape of Ruby Capital, which acquired Eden Mill for an undisclosed sum.
Thomas McKay, managing partner of Begbies Traynor in Scotland, who ran the restructuring activity, said: “The whisky sector as a whole continues to have a number of challenges at this time, largely as a result of the ongoing recession in the global whisky market.
“Eden Mill experienced a drop in sales and delays in the opening of its flagship visitor centre in St Andrews, which took around 12 months longer than expected to open its doors, creating cash flow difficulties for the business.
“With 42 jobs at risk, an accelerated sale took place to preserve value in the business and assets and to restructure the core business,” explained McKay.
“The Eden Mill brands and assets have now been sold to the new owners and all employee jobs have been saved as part of the restructure.”
McKay added: “Thank you to St Andrews University, the landlords of the business, for their assistance and support during this restructure.
“We hope people will continue to visit the distillery, buy its products, and support it going forward, as Eden Mill now continues to trade under a new structure and journey into the future with new investment and secure foundations.”
Ruby Capital is led by entrepreneur Tony Banks, who commented: “I’m delighted that Eden Mill will continue to thrive as a world-class destination for visitors and a proud ambassador of Scottish craftsmanship.
“We believe strongly that a brand as iconic as Eden Mill should not be allowed to fail. It’s well-loved, high-profile, and we’re ready to grow it even further. This investment marks the beginning of an exciting new chapter.”
The intention now is that operations will continue as normal at the landmark distillery and visitor centre on the Eden Estuary, which is powered entirely by renewable energy.
Interim Chief Executive of Eden Mill, Ian McDougall, added: “We remain committed to celebrating St Andrews’ proud distilling tradition and delivering exceptional gin, whisky, and visitor experiences. We’re delighted Ruby Capital has stepped in to secure our future, and there will be no immediate changes for employees, customers, or suppliers.”
Looking ahead, Ruby Capital said that it will invest in new products, expand the brand, and ‘position Eden Mill as one of Scotland’s leading international spirits’.
“Its location next to the home of golf makes it perfectly placed to serve the global tourism market,” added Banks. “We’re excited to build on the quality and reputation of Eden Mill and take it to new heights.”
Begbies Traynor’s restructuring services have recently been in demand from the Scottish whisky sector, with the firm restructuring a number of distilleries and spirit brands in 2025.
