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Barclays has shown its support for the Isle of Arran Distillers with a £25 million funding package which helped the island’s whisky producer to develop its second distillery at Lagg which opened in June.
The financial backing has allowed the Lagg Distillery with its visitor centre, restaurant and café, to double the company’s production capacity to over two million litres (lpa per annum) and will see the development of further new warehousing facilities on the site.
Founded in 1994, the Isle of Arran Distillers revived the tradition of whisky distilling on Arran when it built its operation in Lochranza, at the north end of the island. In 2020 the company will release their first 25 year-old single malt in their brand new packaging.
The two distilleries now employs 80 people across its, with Lochranza in the north offering a production capacity of about 1.2 million litres of alcohol. The new Lagg Distillery has a capacity of around 1 million litres and is currently filling casks with the future Lagg single malt which is a heavily peated spirit. Distillery tours with professional guides are available at both locations to allow visitors to glean insight into the art behind Scotland’s most famous export, and private casks are available for consumers to purchase from both.
The funding package is one of a number Barclays has delivered to the whisky sector and its wider supply chain, from international and micro-distilleries to grain producers and logistics firms.
Jamie Grant, head of corporate banking for Barclays in Scotland, said: ‘Isle of Arran Distillers is a perfect example of a business harnessing the power of Scottish provenance, contributing to the global success of our food and drink industry.
‘We have made a significant commitment to the whisky sector by investing both time and money to become industry experts, ensuring we are able to provide bespoke solutions specific to the sector. The deal team worked closely with Isle of Arran Distillers, guiding them every step of the way, to provide a unique funding solution to aid growth and deliver their vision of opening a second distillery on the island.’
Euan Mitchell, director of production and operations of Isle of Arran Distillers Ltd, said: ‘Times have never been more exciting for our company. With the re-branding of our Arran Single Malt and the opening of Lagg Distillery, it has been a busy year and expansion and change has been at the forefront of our minds. We look ahead with excitement to our 25th anniversary celebrations in 2020 and are proud to partner with Barclays in securing long-term growth for the future success of our company.’
The new Lagg Distillery which opened in June this year. No_B48whisky01
Euan Mitchell, director of production and operations at Isle of Arran Distillers. No_B48whisky02