PureMalt switches from Bank of Scotland to HSBC

Published on 06/09/2012 00:22

Malt extract supplier PureMalt has switched bankers from Bank of Scotland to HSBC as it looks to capitalise on international expansion.

The Haddington-based company, which makes all its products from the historic site of a former oatmeal mill dating back to the 12th century, said its increasingly international outlook meant it needed a bank that could work on a global basis. It has agreed a £2.8 million banking package.

Managing director Bruce Turner said the growing variety of beers around the world was driving demand for its specialist malt extracts, which allow brewers to add character beyond that of a traditional lager.

The firm already exports to 50 countries and is looking to reach new markets, while investing in technology at its Scottish base.