A Scottish whisky distillery is planning to expand its growth into international markets after securing a £10m bank loan.
Bladnoch Distillery, near Wigtown in Dumfries and Galloway, aims to target “growth markets” in Australia, Israel, China, the US and parts of Europe.
The loan from HSBC UK will also be used to improve the company’s energy efficiency and carbon footprint through technology upgrades as well as maintenance and improvement works on its grounds and warehouses.
In the past year, Bladnoch has expanded its team with seven new posts. Further additions are expected throughout 2021.
Bladnoch’s master distiller, Dr Nick Savage, 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.
“HSBC UK understands the real value of whisky stocks and products, not just the financial value. It means they are well placed to understand our vision and plans for future growth.”
Allan Jackson, corporate banking director in Scotland at HSBC UK, added: “It is no secret that the whisky sector is hugely important to the Scottish economy, with worldwide appeal for its products.
“We’re delighted to support Bladnoch as it continues to improve and grow its business operations, tapping into new markets where demand is increasing.”
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