IAN Macleod Distillers has secured £60m bank funding which will support a push for growth amid strong demand for Scotch overseas.
The Broxburn-based firm, which owns the Glengoyne and Tamdhu distilleries, said it will draw on the funding to support future projects and the underlying growth of the business.
The privately-owned company’s core markets include Africa, the Far East and the Americas.
The funding has been provided by a syndicate of banks led by Royal Bank of Scotland and Bank of Scotland.
It is secured against the company’s inventory of whisky stocks.
Mike Younger, finance director of Ian Macleod Distillers, said the company has been working with both banks since 2013.
He noted:“I am delighted to have both banks involved as it gives the Company the comfort that we are, and will be, strongly supported. I am also confident that further significant funding will be available should it be needed. “
Ian Macleod Distillers describes itself as the world’s 10th largest Scotch whisky company.
It has £60.5m turnover and employs 111 people
The firm’s portfolio includes Glengoyne, Tamdhu, Isle of Skye and Smokehead Scotch whiskies.
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