The GlenAllachie secures £30m finance deal to support growth

The GlenAllachie secures £30m finance deal to support growth

Speyside distiller The GlenAllachie secures asset-based loan to support capital projects

News | 13 Mar 2020

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The GlenAllachie Distillers Company has secured a £30m loan as part of a refinancing package to support the brand's global development.

The asset-based funding, approved on a four-year term, will be used by the distiller to fund working capital and capital projects. Clydesdale Bank was selected to provide the finance in a tendering process managed by the new Scottish arm of Irish corporate finance firm HNH.

The GlenAllachie Distillery, located near Aberlour in Speyside, was bought from Chivas Brothers, a subsidiary of Pernod Ricard, by entrepreneur Billy Walker and his team in 2017. The deal included a significant volume of mature and maturing whisky. The company has released a core range of GlenAllachie single malts and also relaunched MacNair's blended malt brand, which includes MacNair's Lum Reek, a peated blended malt. The White Heather brand, which it also owns, is due to be relaunched in May 2020.

Regarding the financing, Billy Walker said: "This new debt facility will enable us to continue our journey at the pace we want and further develop GlenAllachie as a premium single malt brand around the world."

David Hunter, director of asset-based lending with Clydesdale Bank in Glasgow, said: "We are looking forward to working with the management team at The GlenAllachie and are delighted to be able to support them through such an exciting stage of their business."
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