GlenAllachie secures £30m from Clydesdale to build brand
Billy Walker: ‘continuing our journey’
GlenAllachie Distillers has secured a £30m asset-based lending package from Clydesdale Bank.
Speyside-based GlenAllachie will use the facility to fund working capital and capital expenditure as it continues to develop its brand around the world.
Billy Walker, managing director, said: “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.”
David Hunter, director – asset based lending with Clydesdale Bank,said: “We are looking forward to working with the management team at GlenAllachie and are delighted to be able support them through such an exciting stage of their business.”
Bruce Walker, a director of HNH Edinburgh, led the refinancing exercise. Legal advice was provided by Peter Kelly of Brodies and the inventory valuation exercise by Christian Humphreys of Sanderson Weatherall. Euan Cluness of Addleshaw Goddard provided legal advice to Clydesdale Bank.