Speyside Distillers secures £2.3m for expansion

Speyside Distillers Company, whose global ambassador is retired footballer Michael Owen, is set to further expand its footprint in the UK and overseas after securing funding of £2.3 million.

John Harvey McDonough and Michael Owen have celebrated Speyside Distillers Company’s recent round of investment

The Glasgow-based company received the funds from Clydesdale Bank and will now finance a strategy to “respond to increased worldwide demand for its products”.

Speyside Distillers Company owns the Speyside Distillery, based near Kingussie, where is produces the Spey Whisky and recently launched Beinn Dubh Scotch brands.

“Spey is one of the biggest brands in Taiwan, but over the last few years we’ve also focused on growing our presence worldwide and here in the UK,” said John Harvey McDonough, CEO of the Speyside Distillery Company.

“As a result, our whisky is now available in several key and emerging markets, including Germany, Russia, Australia, France and the Netherlands.”

McDonough said the new funds would allow the company to “produce and acquire” more stock as it builds its portfolio internationally.

“We’re extremely pleased that Clydesdale Bank is backing the next stage of our ambitious growth plans and we look forward to continuing to work in partnership with its knowledgeable team,” he added.

Speyside Distillery Company released two new expressions last year: Beinn Dubh, described as a “black single malt” finished in Port casks, and Spey Lord Byron, a limited edition brand extension of Spey Whisky that marks the 200^th anniversary of poet Lord Byron’s marriage.

In 2014, Spey Whisky recruited former Manchester United striker Michael Owen as its global brand ambassador.

“Speyside Distillers Company Ltd is a strong, well-managed business with ambitious growth aspirations,” said Robert Gibson, head of Clydesdale Bank’s Regional Business and Private Banking Centre in Glasgow.

“Its experienced team already has a fantastic track record in growing the business and with whisky continuing to be one of Scotland’s top food and drink exports Speyside Distillers is in an excellent position to expand further.”