Ian Macleod to expand following “substantial” loan

Ian Macleod Distillers, producer of Glengoyne and Tamdhu whiskies, is planning expansion after securing a “substantial” bank loan.

Laurence Jamieson, of the Bank of Scotland, and Mike Younger, finance director at Ian Macleod Distillers, are confident that the “substantial” loan will enable Macleod to grow its presence in the emerging markets

The loan, provided by the Bank of Scotland, will be used to construct six additional bonded warehouses at Ian Macleod’s Tamdhu distillery in Speyside.

These buildings, which will allow the distillery increase capacity, save money on storage costs and expand growth into export markets, will be brought into use in 2015.

Mike Younger, finance director of Ian Macleod Distillers, said: “The additional warehouse facility at Speyside will provide us with storage space appropriate for our sales demand and our ambitious plans for growth and further export sales.”

In particular, Ian Macleod is eyeing bulk export sales to the emerging markets following the establishment of an overseas subsidiary in India in 2010. The company claims to have already seen increased demand in Dubai, Bahrain, India and Malaysia.

“The Scotch whisky industry, as an integral part of the Scottish food and drink industry, has led the way in terms of generating increased export revenue in recent years,” said Laurence Jamieson, relationship director at Bank of Scotland.

“With emerging markets increasing demand, the picture continues to look bright for the sector. We are delighted to be able to support Ian Macleod Distillers which is a dynamic player in this sector.”

Ian Macleod acquired Tamdhu distillery from Edrington in 2011.