Knowsley-based business, which employs around 300 people, says it will use the three-year facility from Royal Bank of Scotland to develop a new portfolio of spirit brands. Tony McDonough reports.
Merseyside’s Halewood Wines and Spirits (HWS), which is behind brands such as Lambrini, Crabbies and Red Square, has secured £50m of bank funding.
The Knowsley-based business, which employs around 300 people, says it will use the three-year facility from Royal Bank of Scotland (RBS) to develop a new portfolio of spirit brands.
Chief executive Stewart Hainsworth has put together a a growth and acquisition strategy for the company which sells £215m worth of drinks products every year to 90 countries across the world.
The company, formerly known as Halewood International, was, until recently, the sponsor of the Aintree Grand National via its Crabbies brand.
HWS new brand development is already well under way with the Whitley Neill Gin brand enjoying strong growth allied to recent investments in West Cork Distillers, Pogues Irish Whiskey and Rum Sixty-Six.
The company has also recently invested in the Lake District-based craft beer brewery, Hawkshead, and announced the construction of a new Welsh Whisky Distillery at Aber Falls.
HWS is a family-owned business and is a key contributor to the local economy in Merseyside.
Mr Hainsworth said: “The partnership with RBS is another important step forward in Halewood’s strategic plan to build a portfolio of distinctive brands with strong local provenance.
Andy Pickford, director, asset-based lending at RBS, added: “We were immediately impressed with Stewart, Alan and the senior management team, especially with their sector insight and their plans to develop the business.
“Our asset-based lending facility fits perfectly with their ambitions, providing a source of flexible, cost-effective financing, with key terms built around the strategic plan.