The Borders Distillery, has announced that it has secured a £35 million funding package from the wine and spirits, technology and financing platform Ferovinum.
The new arrangement will enable The Borders Distillery - the first to operate in the Scottish Borders since 1837, to grow its business and develop its core strengths in advance of the eventual release of its single malt Scotch whisky.
 |
| The Borders Distillery secures £35m funding package |
As a first-of-its-kind funding platform dedicated to unlocking growth for wine and spirits enterprises, Ferovinum will also provide The Borders Distillery with specialist operations and supply chain tools to support trading in the UK, Europe and the USA.
Commenting on the news, John Fordyce, Mangaging Director of The Borders Distillery, said: “We are delighted to have found a partner in Ferovinum and its excellent team. We share the same ambitions to grow, enthusiasm for the Scotch hisky industry and commitment to deploy technology to facilitate growth in multiple markets.”
Gregor Mathieson, Director of Spirits at Ferovinum, added: “We are very proud to be supporting The Borders Distillery during their next phase of growth. It is six years since the stills started running at their extraordinary site in Hawick, and the dedication to making great whisky as well as being a force for good in the Borders community is palpable amongst the whole team. Ferovinum was created to provide ambitious, visionary drinks businesses like this with the backing and specialist support they need to achieve their goals, and we are very excited to be partnering with John and the team for the journey ahead.”
The Borders Distillery Company was founded in 2013 by George Tait, John Fordyce, Tim Carton and Tony Roberts. After raising £9.6m in equity funding a new distillery was built in an abandoned building in the centre of Hawick with the first spirit distilled on March 6th 2018.
Posted by Steve Rush