Glasgow-based Speyside Distillers Company Ltd (SDCL) is targeting further expansion in both the UK and overseas after securing a £2.3 million funding package from Clydesdale Bank.
SDCL will use the funding to finance a strategy required to respond to increased worldwide demand for its products, which are now sold in more than 20 countries. The firm produces a number of high quality single malt Scotch whiskies at Speyside Distillery near Kingussie, including the recently launched Beinn Dubh and SPEY Lord Byron The Marriage.
The deal was delivered by Alasdair Mackay, relationship manager in Clydesdale Bank’s Regional Business and Private Banking Centre in Glasgow.
John Harvey McDonough, chief executive officer of SDCL, is currently in Asia where he is spearheading the firm’s strategic growth into China and other ASEAN countries. He said, “SPEY is one of the biggest brands in Taiwan, but over the last few years we’ve also focused on growing our presence worldwide and here in the UK. As a result, our whisky is now available in several key and emerging markets, including Germany, Russia, Australia, France and the Netherlands.
“Clydesdale Bank has provided funding to help us to produce and acquire more stock to meet demand as we build our brand internationally. The Bank’s support was also crucial to incorporating our new brand, Beinn Dubh, which was launched in August last year to rave reviews from whisky lovers around the world.”
Beinn Dubh - which translates from Gaelic as ‘black mountain’ - pays tribute to Ben Macdui the highest peak in the Cairngorm mountain range. The single malt is created using locally sourced barley and matured in port casks, giving it a distinctive ruby-black colour. Speyside Distillery produced a second new release late in 2015 – SPEY Lord Byron The Marriage commemorates the 200th wedding anniversary of the Romantic poet, who is said to have gifted a cask of SPEY whisky to King George III to celebrate the occasion.
McDonough added, “We’re extremely pleased that Clydesdale Bank is backing the next stage of our ambitious growth plans and we look forward to continuing to work in partnership with its knowledgeable team.”
Robert Gibson, head of Clydesdale Bank’s Regional Business and Private Banking Centre in Glasgow, said, “Speyside Distillers Company Ltd is a strong, well-managed business with ambitious growth aspirations. Its experienced team already has a fantastic track record in growing the business and with whisky continuing to be one of Scotland’s top food and drink exports Speyside Distillers is in an excellent position to expand further.”