Glasses raised to Hawick distillery’s £35m funding deal

Borders Distillery.Borders Distillery.
Borders Distillery.
The managing director of Hawick-based Borders Distillery Company has raised a glass to a £35m funding package.

The deal, struck with financing company Ferovinum, will support the distillery for the next three years, enabling it to grow its business in advance of the eventual release of its inaugural single malt.

Ferovinum will also provide operations and supply chain tools to support trading in the UK, Europe and the US.

Hide Ad
Hide Ad

The Borders Distillery was advised by Scottish corporate finance advisory firm Noble & Co.

Borders Distillery managing director John Fordyce 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 whisky industry and commitment to deploy technology to facilitate growth in multiple markets.”

The Ferovinum platform aims to deliver a more agile funding solution by holding assets during production, storage, distribution and fulfilment, giving companies end-to-end capabilities, funding the full production and distribution cycles.

Hide Ad
Hide Ad

Gregor Mathieson, director of spirits at Ferovinum, added: “It is six years since the stills started running at The Borders Distillery’s 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.”

When the distillery opened in 2018 it became the first such outlet in the Borders since 1837.

Related topics: