Capital injection for Ian Macleod Distillers and Rosebank Distillery
£80 mio to support the growing company
When recently the news was spread that Rosebank Distillery at Falkirk will be reactivated by its new owner Ian Macleod Distillers the whisky world was delighted. The whisky of the distillery that was mothballed in 1993 is still as popular as it always has been. But nobody that had the chance to take a look at the distillery site recently would deny that it will take a considerably sum to realize this project. An actual news now announces the financial background has been secured: a sum of £80 mio will be provided by the Bank of Scotland and PNC Business Credit.
A credit secured by whisky
Nobody would be granted with such a credit without offering valuable guarantees and as we can read on insider.co.uk the whisky stock of the company will serve as security. This stock doesn’t only contain the casks the independent bottler has been storing in its warehouses over the years. It was increased by the remaining casks of Rosebank whisky that Ian Macleod took over from Diageo together with trademark Rosebank. During the next 5 years this credit can even be increased by another £10 mio the internet magazine scottishfinancialnews.com points out in its article about this financial deal. So it must be remarkable values that Ian Macleod can back on. And also the actual fantastic business results and the success of the company owned distilleries have probably been of importance for receiving this credit. For some years now Ian Macleod runs Tamdhu and Glengoyne and last year a gindistillery in the heart of Edinburgh was added by overtaking the Spencerfield Spirits Company (we reported).
Triple Distillation to be maintained at Rosebank
It will take some time until renovation and reactivation of Rosebank Distillery will be finished. On the website that has already been launched Ian Macleod announces: “The distillery will reopen over the next few years…”. Lowland whisky of the old style will be produced, triple distilled and by use of traditional worm tubs. A visitor center will also be an important part of the new distillery project and in regard of the acquired whisky stock we can hope for bottlings of old times Rosebank Single Malt