Artisanal Spirits Co raises £19.5m amid IPO talk
Mark Hunter: veteran support
The Artisanal Spirits Company (ASC), owner of The Scotch Malt Whisky Society, has raised £19.5 million in development funding ahead of a possible flotation of the business.
The new facilities from Royal Bank of Scotland and Lombard will enable the Society to further invest in whisky and other spirits stock as well as new cask wood.
Headquartered at The Vaults in Leith, The Scotch Malt Whisky Society (SMWS) is a curator and provider of premium single cask Scotch malt whisky and other spirits for sale to a global membership of around 28,000 whisky fans. .
ASC posted a 3% growth in revenue to £15m last year following a 30% increase in e-commerce globally. Although venues were closed throughout most of the pandemic, membership of SMWS increased 4% in the year, owing to an increase in the number of sign-ups made through online channels.
The Scotch Malt Whisky Society has been a customer of the Royal Bank of Scotland since 2015, after it was acquired from LVMH’s Glenmorangie company.