One of Scotland's oldest distilleries targets overseas growth with £10m funds boost

A Lowland distillery founded more than 200 years ago is targeting international growth after securing an eight-figure funding package.

Bladnoch Distillery in Wigtown, Galloway, will use the £10 million lending facility agreed with HSBC to further expand existing markets and grow its distribution network to a series of “priority markets” around the world, including Australia, China, Israel and the US.

The lending will also be used to improve the distillery’s energy efficiency and carbon footprint, through technology upgrades as well as maintenance and improvement works on its grounds and warehouses.

Nick Savage, master distiller at Bladnoch Distillery, which was founded in 1817, said: “While trading conditions have been challenging in the face of Brexit and Covid-19, we’ve managed to grow through this period and the business is now in a place where it can explore new opportunities to increase our international sales and reputation.”

Bladnoch Distillery master distiller Nick Savage.

Last year, the distillery grew its team with five new hires and since the start of 2021 it has added another two, with further additions expected throughout the year.

Allan Jackson, corporate banking director in Scotland at HSBC UK, said: “It is no secret that the whisky sector is hugely important to the Scottish economy, with worldwide appeal for its products.

“We’re delighted to support Bladnoch as it continues to improve and grow its business operations, tapping into new markets where demand is increasing.”

Prior added: “HSBC UK understands the real value of whisky stocks and products, not just the financial value. It means they are well placed to understand our vision and plans for future growth.”

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