Supporting Witchmark Distillery’s journey to success
Witchmark Distillery is based in the heart of England and prides itself on combining traditional methods with modern technology. Set in a 16th-century medieval barn, now fitted out with 21st-century kit, the distillery produces whisky focusing on high quality products with a low carbon footprint.
The company has been built on a foundation of sustainability, using energy and heat recovery systems and growing their malting barley locally, prioritising "food meters" over "food miles". With their innovative approach and commitment to outstanding products, Witchmark has grown quickly since inception, becoming a leading name in the rapidly expanding English whisky market.
The challenge
Starting a new distillery is no easy task, especially since whisky needs to age for at least three years before it can be sold. This long wait for a return on investment made it difficult for the business to secure funding from traditional lenders, who typically prefer business models which yield a faster return and involve greater certainty. They needed a financial partner who understood the industry and could help them through the early stages of production and into growth.
The solution
With a deep understanding of the brewery and distilling industry, the team at Close Brothers appreciated the unique challenges and opportunities that the company presented. This knowledge facilitated a smoother, clearer, and faster funding process, ensuring that the distillery received the necessary financial support in the initial stages of investing.
The result
With the support of Close Brothers, Witchmark Distillery purchased the state-of-the-art equipment needed to blend automation with traditional craftsmanship, ensuring high-quality production and greater efficiency, and allowing them to focus on refining their craft and expanding production capabilities without the worry of financial strain.
Alistair Munro, Founder of Witchmark Distillery, has been driven by first-time business opportunities and saw this in the infancy of English Whisky.
“When I came up with this mad idea to set up a whisky distillery, we didn't even have empty buildings and everybody laughed. That was years ago, and here we are.
“The challenges for any whisky business starting up is how does it fund itself over time? Most of the lenders that we went to didn't understand our model, didn't understand our business. We saw Close Brothers as a key partner for us and our finance because of their understanding of the brewery and the distilling space. And that made the whole process for us so much clearer and much easier and much quicker.”
Today, the company continues to focus on sustainability, with energy-efficient processes and locally grown barley, now exporting to over 40 countries and has expanded its distillery to meet growing demand. With Close Brothers’ support, Witchmark Distillery is well-placed to continue its success in the global market.
Products and services are subject to eligibility, status, terms and conditions, and availability. All lending is subject to status and lending criteria. The right to decline any application is reserved.
