One of Scotland’s oldest single malt whisky distilleries is targeting international growth after securing a £10m loan.
Bladnoch Distillery in Wigtown, Galloway, will use the asset-based lending facility to support its growth strategy, which focuses on further penetrating existing markets and expanding distribution network to a new markets around the world.
Specifically, it is targeting Australia, Israel, China, the United States and parts of Europe.
The financing agreement with HSBC UK will also help improve the distillery’s energy efficiency and carbon footprint, through technology upgrades, as well as maintenance and improvement works on its grounds and warehouses.
Last year Bladnoch grew its team with five new hires and since the start of 2021 it has added another two, with further additions expected throughout the year.
Nick Savage, master distiller at Bladnoch Distillery, said: “While trading conditions have been challenging in the face of Brexit and Covid-19, we’ve managed to grow through this period and the business is now in a place where it can explore new opportunities to increase our international sales and reputation.”
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