Inver House Distillers targets Kazakhstan
Inver House Distillers has completed a £10 million investment at its Speyburn distillery, doubling its production capacity with the aim of taking on new markets such as India, Kazakhstan and Poland.
The investment, funded by the Bank of Scotland, has seen the producer of single malt brands including Old Pulteney, Balblair and Speyburn increase its maturation capacity by 20%. Having built a further 12 warehouses, the distiller’s maturation capacity now stands at 600,000 casks of whisky, while its annual production capacity has doubled to 4.2 million litres.
“Our brands performed well in 2015, growing and laying the foundations in many new international markets”, said Inver House managing director Graham Stevenson. “We anticipate further opportunities and this growth will be underpinned in the coming years by the increased capacity, in terms of production and maturation storage, created as part of our investment programme.”
The £10 million expansion will allow the distiller to serve emerging markets in Kazakhstan, Poland and India, where last year it launched its Old Pulteney, Balblair and Speyburn single malt Scotch whiskies, as well as its premium Caorunn gin.
“Looking at India as an example, we have had very positive feedback so far since our brands launched in the country, where we conducted a programme of masterclass events in the cities of Delhi, Puni, and Mumbai”, added Stevenson.
“We are also about to launch in the travel retail sector, which is key to growth for imported brands in this marketplace, due to the very high import taxes businesses have to pay to get into the domestic market.”
Inver House was founded in 1964 and reported a 23.5% increase in its pre-tax profits to £11.8 million in 2014.
Mark Hull, relationship director at Bank of Scotland, said: “Whisky exports remain buoyant, at over £4 billion annually, despite various uncertainties. The long-term view for Scotch whisky remains the same despite some…challenging dynamics in key global powers such as Russia.”