Bruichladdich strikes HSBC deal

Islay distillery Bruichladdich has secured a £9.5 million deal with HSBC to help fund its expansion plans.

The news comes as the company launches its new 10-year-old expression – The Laddie Ten – amid a period of sustained growth following the resurrection of the distillery 10 years ago.

After closing down in 1994, Bruichladdich was acquired in December 2000 by Sir John Mactaggart, Mark Reynier and a group of private investors.

This marked the first time a Scottish distillery had been either sold to an independent buyer or bought out of closure, and has grown to ship 40,000 cases of whisky annually.

The distillery currently exports two-thirds of its whisky to international markets, including France, Germany, Canada and the US.

Bruichladdich’s new relationship with HSBC has, according to the company, “secured its future growth with a multi-million pound deal which will enable the business to significantly expand its production capabilities”.

Following 10 years of pioneering experimentation with different barley varieties, the distillery has plans to produce a diverse range of bottlings.

Mark Reynier, managing director of Bruichladdich, said: “Our new banking relationship will liberate the business to grow, as we now have the potential to borrow double what we could before. This investment will allow us to expand, fuelling sales both in export markets and at home.

“We acquired the Bruichladdich distillery on 19 December 2000, the day my son was born, so he’s inadvertently become a lucky mascot for the company.

“It’s fantastic to see the past 10 years’ hard work and investment come to fruition and I’m confident that HSBC’s international expertise, transparency and encouragement will allow the distillery to produce quality Scottish malts for many more years to come.”

Mark Tate, head of commercial banking in Scotland for HSBC, added: “Bruichladdich is a thriving business, in a growing and important sector for the Scottish economy.

“The whole team’s enthusiasm and passion for the whisky distilled at Bruichladdich is totally infectious and it’s been a fascinating journey for our commercial banking team in Glasgow, as we’ve learned more about this special distillery.

“Having spent considerable time at the distillery, gaining an insight into the very special culture of the team on Islay, we have been able to understand the business’s needs first-hand and structure a package to help the company expand to the next level whilst developing further into overseas markets.

“I was proud to attend the launch of The Laddie Ten on Islay this month, as it marked a real milestone in the company’s development and offered a great opportunity to establish this partnership.”