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The Borders Distillery agrees £35 million funding deal with Ferovinum

Wine and spirits fintech Ferovinum has agreed a £35 million funding package with the Borders Distillery. The funding will support the distillery over the next three years.
 
The Borders Distillery says it is the first distillery to operate in the Scottish Borders since 1837. Having previously released gins and vodkas, the distillery is now working on its Scotch whisky. In 2023, the Borders Distillery won Best Scotch New Make in the Whisky Magazine Awards Scotland 2024
 
The deal will also see Ferovinum support the distillery with operations and supply chain tools, supporting its trading in the UK, Europe, and the United States. 
 
The Borders Distillery 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.”
 
Gregor Mathieson, director of spirits at Ferovinum added: “We are very proud to be supporting the Borders Distillery during their next phase of growth. 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.
 
“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.”
 
Earlier this year, Ferovinum announced a £2 million plus deal with Edinburgh’s Holyrood Distillery to support its domestic and international growth plans.

22 April 2024 - Lucy Schofield