A FIFTH-generation family farm in Fife has moved into supplying “craft malt” to distillers and brewers in Scotland, after spotting a gap in the market and securing a £500,000 funding package.
The Crafty Malsters business, which operates from the A Milne & Sons farm on the outskirts of Auchtermuchty, has used the finance to buy the equipment required to produce local craft malt and build a 3,000 sq ft shed for storing and processing grain. Banking giant HSBC, which provided the funding, noted the package comprised a new loan and an overdraft facility.
Crafty Maltsters aims to establish a Scottish specialty malt brand to harness the boom in craft brewing and distilling in Scotland. Malt is a core ingredient in beer and spirits.
Alison Milne, a former commercial director at the National Farmers Union of Scotland, and her husband Daniel took over management of the Fife farm from Daniel’s parents in 2014. They “immediately looked for ways to diversify and add value to their existing arable and livestock enterprise”, HSBC noted.
Ms Milne said: “After studying the malting supply chain, we spotted a gap in the market for small-scale malting providers that can guarantee quality, locally-sourced malt for brewers and distillers across Scotland.
“We want to help put small-scale malting at the forefront of ingredient supply chain and tell the story of Scotland’s grain-to-glass journey, as well as the value that malt brings to beers and spirits.”
David Rhind, agriculture relationship director at HSBC UK, said: “We were impressed with Alison’s experience and expertise in the sector and, along with her family, she has clearly spotted an excellent business opportunity...We wish Alison and Crafty Maltsters every success in taking the business forward.”
He flagged HSBC’s appetite for funding businesses of all sizes in Scotland’s food and drink sector.
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