The Borders Distillery secures £35m funding package

By William Dodds

- Last updated on GMT

The Borders Distillery is based in Hawick, Scotland. Credit: The Borders Distillery / Ferovinum
The Borders Distillery is based in Hawick, Scotland. Credit: The Borders Distillery / Ferovinum

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Scottish whisky manufacturer The Borders Distillery has agreed to a £35m funding package with technology and financing platform Ferovinum.

The money will support The Borders Distillery as it continues to develops its core strengths in advance of the eventual release of its single malt Scotch whisky.

Ferovinum will also provide the spirits maker with specialist operations and supply chain tools to support trading in the UK, Europe and the USA.

Founded in 2013 by George Tait, John Fordyce, Tim Carton and Tony Roberts, The Borders Distillery initially raised £9.6m to fund the opening of its distillery in Hawick on 6 March 2018, making it the first whisky manufacturer to operate in the Scottish Borders since 1837.

Today, the company employs 18 people and has recently launched its 'Workshop Series' of Scotch whiskies including malt and rye.

Commenting on the deal, managing director John Fordyce said: “We are delighted to have found a partner in Ferovinum and its excellent team. We share the same ambitions to grow, enthusiasm for the Scotch Whisky industry and commitment to deploy technology to facilitate growth in multiple markets.”

Meanwhile, director of spirits at Ferovinum Gregor Mathieson said that the firm was “very proud”​ to be supporting The Borders Distillery.

Founded in 2018 by two wine and spirits enthusiasts Mitchel Fowler and Daniel Gibney, Ferovinum has bases in London, Scotland, Ireland and the USA and possesses a growing team of specialists across finance, technology, wine and spirits and law.

“It is six years since the stills started running at their extraordinary site in Hawick, and the dedication to making great whisky as well as being a force for good in the Borders community is palpable amongst the whole team,” ​added Mathieson.

“Ferovinum was created to provide ambitious, visionary drinks businesses like this with the backing and specialist support they need to achieve their goals, and we are very excited to be partnering with John and the team for the journey ahead.

In other news, Unilever has announced that it is recalling ‘Magnum Almond Ice Cream Sticks’ because of the possible presence of plastic and metal.

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