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Inver House Distillers plans £10m expansion
Inver House Distillers, producer of Old Pulteney and Balblair Scotch whisky brands, is set to significantly boost its capacity after securing a £10 million funding deal.
After securing £10m in funding from the Bank of Scotland, Inver House Distillers plans to double capacity of its Speyburn Distillery
The distiller, owned by International Beverage, also produces the anCnoc Scotch whisky brand and Caorunn Gin, as well a number of other spirits labels.
Based in Airdrie, the group received financial backing from the Bank of Scotland to build an additional 12 warehouses, allowing an extra 120,000 casks of whisky to be stored, the BBC reports. Currently, the group has capacity for 500,000 casks.
In addition, the funds will help the group expand its Speyside-based Speyburn Distillery, which creates Speyburn Highland single malt Scotch, doubling production capacity to 4.2m litres a year.
Inver House said the expansion will help the group cater to growing demand in the international markets.
“The success of our brands on the global stage, specifically Speyburn, means that we’re very much in growth mode,” said Graham Stevenson, managing director of Inver House.
“The whisky industry is buoyant, despite various economic and political uncertainties around the globe. The longer term demographics and prospects of the emerging markets are very positive and we need to be prepared for these opportunities.”
Stevenson added that the additional warehouses will provide the group with “much needed” storage space to capitalise on forecasted growth in the industry.
Inver House first revealed plans to expand its Speyburn Distillery in February last year.