GlenAllachie gains £30m investment for global growth

11th March, 2020 by Nicola Carruthers

Speyside distillery GlenAllachie has obtained a £30 million (US$38m) funding package to support its international expansion.

Billy Walker, managing director of The GlenAllachie

The asset-based lending package is for a four-year period and came from Clydesdale Bank, with finance specialist HNH acting as an advisor.

The money will be used to fund working capital and capital expenditure as the Scotch whisky distiller “continues to develop its brand around the world”.

Based near Aberlour, The GlenAllachie Distillery is led by Billy Walker, former managing director of the BenRiach Distillery Company. He acquired the site from Pernod Ricard’s Chivas Brothers arm in October 2017.

The GlenAllachie’s core range consists of aged single malts and peated blended malt, MacNair’s Lum Reek. GlenAllachie’s White Heather Scotch brand will be relaunched in May 2020.

“This new debt facility will enable us to continue our journey at the pace we want and further develop GlenAllachie as a premium single malt brand around the world,” said Walker, managing director of The GlenAllachie.

Alan Gilchrist, finance director of The GlenAllachie, added: “The input we received from HNH was invaluable in securing our deal. Asset-based lending is ideal for us as it provides highly flexible funds secured against our appreciating whisky stocks.”

In October last year, The GlenAllachie launched Batch 3 of its Cask Strength series, plus five new single cask bottlings.

The producer opened its visitor centre and shop in May 2019. The GlenAllachie’s team has also grown over the last two years from seven employees to 22.

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