BenRiach Distillery Company produces a range of single malt Scotch whiskies across the BenRiach, GlenDronach and Glenglassaugh brands from three distilleries in Speyside, Scotland.
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RBS IF provided an asset-based lending (ABL) facility to BenRiach Distillery Company. The facility is well suited to the company and has allowed them the flexibility and support to drive a significant level of growth and profitability over the last three years.
Billy Walker, Managing Director, BenRiach Distillery Company Ltd said to the London Stock Exchange Group:
“In our business we have to adopt a 12-year plan to ensure that we are producing and laying down sufficient stocks of maturing whisky to fulfil our medium-to-long-term forecasts. The biggest challenge is funding the stock, with the key costs being barley, wood, energy and manpower.
“However, our profit growth has been very encouraging, and we are in a cash-generative position. We have a very good relationship with our bank, RBS, based on an asset-financed agreement, and this allows us to react quickly and positively when opportunities to develop the business present themselves.”
William Airey, ABL Relationship Manager, RBS IF commented:
“Being featured in the '1000 Companies to Inspire Britain' list is a great achievement for BenRiach Distillery Company. This highlights that serving our customers by nurturing a strong relationship and providing a best fit funding solution can really help our customers thrive.”