Amber Beverage Group secures €27 million loan

20th January, 2020 by Owen Bellwood

Luxembourg-based Amber Beverage Group has received a €27 million (US$30m) loan to “improve the effectiveness” of its operations and fund further expansion.

Jekaterina Stuge, CFO of Amber Beverage Group, said the €27m loan is “only the first step”

Amber Beverage Group, which produces Riga Black Balsam herbal liqueur, Rooster Rojo Tequila and Cross Keys Gin, partnered with Swiss banking group Credit Suisse for the deal.

Jekaterina Stuge, chief financial officer of Amber Beverage Group, said: “Having sufficient capital to run your global business is crucial to ensure operations run smoothly. The boost from Credit Suisse will help us to consolidate our cash flow from Australia, the UK [and] Austria within one cash pool.

“From an international perspective, it will allow us to benefit from more flexible cash flow management options, as all of our companies have a different working capital cycle.

“This deal is only the first step and we look forward to future business with Credit Suisse AG to develop Amber Beverage Group further.”

The €27m loan will help fund the “first step towards further Amber Beverage Group expansion”.

In recent years, Amber Beverage Group has grown from a Baltic enterprise to a global organisation. The firm recently acquired distribution companies in Australia, Austria and the UK with the purchase of Think Spirits, Mountain Spirits and Cellar Trends.

The Luxembourg-based drinks producer currently has more than 2,100 employees who work across its portfolio of more than 200 brands, which are available across 185 markets.

According to the group’s latest financial results, the Moskovskaya vodka maker is on track to become a €1 billion (US$1.13bn) business.

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