An independent blended Scotch whisky brand is eyeing expansion after securing a £35m lending facility.
The asset backed lending package from Santander UK will provide Compass Box with the finance to continue its upward growth trajectory.
With the launch of their new core collection, the facility will allow the whisky company to invest in the quality of current and future stock whilst also investing in warehousing to support the future growth of the business.
The funding will also aid Compass Box to expand overseas, bringing its new range of products into current and new markets. Whilst Compass Box is currently established in the UK, US, China, Japan, France and Germany, it is also looking to expand into wider European, Asian and travel retail markets as it grows.
Compass Box was founded in 2000 with a mission to bring innovation to the category and attract new consumers to the sector.
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In 2022, Caelum Capital acquired a significant majority shareholding in the business and invested additional equity to fund the growth plans of the business.
With the new investment, the Compass Box team has grown significantly and with the lending package, the drinks brand has its sights set for further growth.
Phillip Blundell, Chief Financial Officer at Compass Box, said: “Santander was viewed as more of a business partner than a typical lender.
"The relationships built with the team were a gamechanger, alongside their knowledge and understanding of the industry. We can’t wait for the next chapter of bringing more innovation to the whisky sector, and to more markets."
Gavin Smith, Business Development Director at Santander UK, added: “We are delighted to be welcoming Compass Box Whisky to Santander, perfectly timed with the launch of its new core range of products.
"The team at Compass Box has been great to work with, displaying a clear vision for growth and international expansion. We look forward to working with them over the coming years, with their continued innovation in new products.”
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