CEO John McDonough with brand ambassador Michael Owen

Speyside Distillers Company is targeting expansion in the UK and overseas after securing a £2.3m bank funding package.

The distiller behind the Spey single malt brand will use the money from Clydesdale Bank to respond to increased worldwide demand for its products, which are now sold in more than 20 countries.

Chief executive John McDonough is currently in Asia where he is spearheading the business’ strategic growth into China and other countries in Southeast Asia.

“Spey is one of the biggest brands in Taiwan, but over the last few years we’ve also focused on growing our presence worldwide and in the UK,” he said. “As a result, our whisky is now available in several key and emerging markets, including Germany, Russia, Australia, France and the Netherlands.

“Clydesdale Bank has provided funding to help us to produce and acquire more stock to meet demand as we build our brand internationally.”

Speyside Distillers launched a new brand, Beinn Dubh, in August last year, created using locally sourced barley and matured in port casks. The company also produced a second new release late in 2015, Spey Lord Byron The Marriage, to commemorate the 200th wedding anniversary of the poet.

Robert Gibson, head of Clydesdale Bank’s regional business and private banking centre in Glasgow, added: “Speyside Distillers Company is a strong, well-managed business with ambitious growth aspirations. Its experienced team already has a fantastic track record in growing the business and with whisky continuing to be one of Scotland’s top food and drink exports Speyside Distillers is in an excellent position to expand further.”