Scotch whisky and gin producer Eden Mill Distillery has been bought out of administration by private-equity firm Ruby Capital.
Owner St Andrews Brewers Ltd entered administration on 18 November, with Begbies Traynor appointed as joint administrators. The Dundee-headquartered Ruby Capital has since acquired Eden Mill for an undisclosed fee, “saving” 42 jobs at the company.
Global Drinks Intel has contacted Ruby Capital and Eden Mill for further details on the new arrangement.
The investment company first backed Eden Mill in 2023, injecting an undisclosed amount into the St Andrews-based distiller. A year earlier, private-equity firm Inverleith bought majority control of the company, which was launched in 2012 by Tony Kelly and Paul Miller.
“The whisky sector as a whole continues to have a number of challenges at this time, largely as a result of the ongoing recession in the global whisky market,” said Begbies Traynor managing partner Thomas McKay.
“Eden Mill experienced a drop in sales and delays in the opening of its flagship visitor centre in St Andrews, which took around 12 months longer than expected to open its doors, creating cash flow difficulties for the business.”
In April, Eden Mill commenced operations at its distillery on the east coast of Scotland.
