Purchase of 300,000 litres of whisky made possible by asset based lending
Security may be required and product fees may apply. Subject to eligibility requirements.
About BenRiach Distillery
Edinburgh-based BenRiach Distillery was founded in 1898, and has grown impressively since it was purchased in 2004. Ten years ago the company turnover was £4.62 million and they employed 12 people. Today they have 120 staff across four sites and a turnover of £41.5m, with recorded pre-tax profits of £11.1m.
What did they want to achieve?
BenRiach wanted to finance the purchase of 300,000 litres of mature single malt whisky. The investment comes of the back off increased demand for BenRiach's spirits. Expanding their warehouses to accommodate this growth is also on the horizon.
How we helped
To facilitate the purchase of the whisky and BenRiach's aims to expand, we provided a £15m asset based lending package.
This purchase of mature stock is a great investment. Over the next 12 months we also plan to invest in our warehouses to accommodate our continued fast growth.
The asset based lending team facility has been key to supporting this acquisition. We've worked with the team for many years and their support has been magnificent.
Billy Walker, Managing Director, BenRiach Distillery
BenRiach had an existing asset based lending facility of £35m, which we've increased £50m. This has supported their recent acquisition, and will allow further investment in future.
William Airey, Relationship Manager, Royal Bank of Scotland's asset based lending team
Our £15m asset based lending facility let BenRiach acquire a significant amount of mature single malt whisky.
Access to more working capital will give the business freedom to make future investments.