Production capacity to be stepped up
Inver House set for global growth after £10m Bank of Scotland backing
Bank of Scotland has provided the Airdrie-headquartered company with a term loan of £10 million which will help pay for the construction of 12 warehouses. They will house 120,000 casks of whisky in addition to the current 500,000 capacity.
Production capacity will also be doubled at Speyburn distillery to 4.2 million litres of whisky a year in order to meet demand for growing international markets.
Inver House Distillers, was established in 1964, and employs 204 people across its six sites in Scotland. It has revenues of over £80m. Key export markets include Germany, Russia and Sweden alongside the US.
Managing Director Graham Stevenson, said: “The success of our brands on the global stage, specifically Speyburn, means that we’re very much in growth mode.
“The whisky industry is buoyant, despite various economic and political uncertainties around the globe. The longer term demographics and prospects of the emerging markets are very positive and we need to be prepared for these opportunities. The additional warehouse facility will provide us with much needed storage space that will allow Inver House Distillers to capitalise on the forecasted industry growth.”
Mark Hull, relationship director at Bank of Scotland, said: “The whisky industry is worth £3.3 billion to the British economy and accounts for three quarters of Scotland’s food and drink exports. The management board of Inver House Distillers is highly experienced and operationally strong with a proven track record and we look forward to working with them as they realise their international expansion targets.”
Picture: Left to Right – Mark Hull, Relationship Director, Bank of Scotland. Graham Stevenson, MD, Inver House Distillers