Compass Box, an independent brand known for its blended Scotch Whisky, has obtained a £35m ($45.6m) lending facility from Santander UK.
This asset-backed lending package will be used to bolster the whisky business’s growth, allowing investment in both the quality of its stock and warehousing to support future expansion.
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Santander UK’s financial support will assist Compass Box in procuring quality casks and whisky.
It will also facilitate the brand’s expansion into new overseas markets, adding to its current presence in China, France, Germany, Japan, the UK and the US.
The focus is on broadening its reach into additional European and Asian markets as well as travel retail sectors.
Beyond traditional banking, Compass Box aims to leverage Santander’s international network to forge overseas contacts and grow its business footprint abroad.
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By GlobalDataFounded in 2000, Compass Box experienced a boost in 2022 when Caelum Capital acquired a majority shareholding and injected further equity to fund growth initiatives.
With the new investment and the recent lending from Santander UK, Compass Box is poised for further expansion.
Compass Box CFO Phillip Blundell 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 cannot wait for the next chapter of bringing more innovation to the whisky sector, and to more markets.”
Santander UK business development director Gavin Smith said: “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.”
In a separate development, British honey producer Hilltop Honey secured a £10m financial package from Santander UK in August, aimed at supporting its international growth.
This funding is expected to enhance Hilltop Honey’s presence in strategic markets including the US, the Middle East and Australia, while also supporting new recruitment to manage its growing operations.
