Equity firm saves Eden Mill from administration
Scottish spirits producer Eden Mill Distillery has been acquired by a private equity firm after entering administration this week, saving all 42 jobs.
Kenny Craig and Kevin Mapstone of Begbies Traynor were appointed joint administrators of St Andrews Brewers on 18 November 2025, after a plan to restructure the business due to “significant debt resulting from the challenges of the global whisky sector”.
Begbies Traynor has now confirmed that Ruby Capital has acquired the business and assets of Eden Mill for an undisclosed sum. Eden Mill produces a range of Scottish gin and whisky.
Last month, Eden Mill opened its new multi-million-pound distillery and visitor centre on the banks of the Eden Estuary. The project, which included a cocktail bar and retail space, created 18 jobs.
However, the opening was delayed by 12 months, causing “cashflow difficulties”.
Thomas McKay, managing partner of Begbies Traynor in Scotland, said: “The whisky sector as a whole continues to have a number of challenges at this time, largely as a result of the ongoing recession in the global whisky market.
“Eden Mill experienced a drop in sales and delays in the opening of its flagship visitor centre in St Andrews, which took around 12 months longer than expected to open its doors, creating cashflow difficulties for the business.
“With 42 jobs at risk, an accelerated sale took place to preserve value in the business and assets and to restructure the core business.”
McKay also thanked St Andrews University, where the new distillery is located, for their “assistance and support” during the restructure.
Ruby Capital founder Tony Banks commented: “I’m delighted that Eden Mill will continue to thrive as a world-class destination for visitors and a proud ambassador of Scottish craftsmanship.
“We believe strongly that a brand as iconic as Eden Mill should not be allowed to fail. It’s well-loved, high-profile, and we’re ready to grow it even further. This investment marks the beginning of an exciting new chapter.”
Ian McDougall, interim chief executive of Eden Mill, added: “We remain committed to celebrating St Andrews’ proud distilling tradition and delivering exceptional gin, whisky, and visitor experiences.
“We’re delighted Ruby Capital has stepped in to secure our future, and there will be no immediate changes for employees, customers, or suppliers.”
Begbies Traynor noted that the downturn in the whisky sector is the result of “changing consumer behaviours, rising operating costs and overheads, falling export sales and reduced consumer demand for alcohol in general”.
The firm has helped a number of Scottish distilleries and spirits brands restructure this year, including Ardent Spirits.
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