Borders Distillery gains £35m funding

The Borders Distillery has received a £35 million (US$43m) funding package to support its growth over the next three years.

Located in Hawick, Scotland, The Borders Distillery secured the funding from wine and spirits investment platform Ferovinum.

The funds will enable The Borders Distillery – the first to operate in the Scottish Borders since 1837 – to grow its business ahead of the release of the company’s first single malt whisky.

The Borders Distillery managing director John Fordyce said: “We are delighted to have found a partner in Ferovinum and its excellent team.

“We share the same ambitions to grow, enthusiasm for the Scotch whisky industry and commitment to deploy technology to facilitate growth in multiple markets.”

Ferovinum will provide the distillery with specialist operations and supply chain tools to support trading in the UK, Europe and the US.

Gregor Mathieson, director of spirits at Ferovinum, added: “We are very proud to be supporting The Borders Distillery during their next phase of growth. It is six years since the stills started running at their extraordinary site in Hawick, and the dedication to making great whisky as well as being a force for good in the Borders community is palpable amongst the whole team.

“Ferovinum was created to provide ambitious, visionary drinks businesses like this with the backing and specialist support they need to achieve their goals, and we are very excited to be partnering with John and the team for the journey ahead.”

Earlier this year, Ferovinum provided more than £2m (US$2.5m) in funding to Edinburgh’s Holyrood Distillery.

The owner of the Scotch Malt Whisky Society also agreed a financing facility worth £15m (US$18.7m) with Ferovinum last year.