Jobs saved as Scottish distillery Eden Mill rescued from administration

Eden Mill Distillery in St Andrews has been bought out of administration by private investor Ruby Capital, saving all 42 staff jobs.

The gin and whisky producer fell into difficulty after struggling with a drop in sales and delays to the opening its flagship visitor centre.

Kenny Craig and Kevin Mapstone of Begbies Traynor were appointed as administrators on 18 November.

This followed a period of intense activity to restructure the business, which had significant debt resulting from the challenges of the global whisky sector.

The downturn in the global whisky market is due to a range of economic factors including changing consumer behaviours, rising operating costs and overheads, falling export sales and reduced consumer demand for alcohol in general.

Terms of the deal with Dundee-based investor Ruby Capital were undisclosed but the sale includes the business and assets of St Andrews Brewers, trading as Eden Mill Distillery. The investor initially took a stake in the distillery in early 2023.

Eden Mill was previously bought by private equity firm Inverleith in 2022, which planned to fund the construction of a new distillery on the Eden Campus at St Andrews University by 2023. However, project delays meant that the facility didn’t open until October 2025.

The new multi-million-pound site includes a 300-cask warehouse, a visitor centre and the 40-seat Lookout cocktail bar. It has a production capacity of one million litres of alcohol per year.

Ruby Capital stated that operations will continue as normal at the distillery and visitor centre on the Eden Estuary. Looking ahead, the private equity company plans to invest in new Eden Mill products and expand the brand.

Thomas McKay, managing partner of Begbies Traynor in Scotland, said: “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.

“With 42 jobs at risk, an accelerated sale took place to preserve value in the business and assets and to restructure the core business. The Eden Mill brands and assets have now been sold to the new owners and all employee jobs have been saved as part of the restructure.”

Ruby Capital founder Tony Banks said: “We believe strongly that a brand as iconic as Eden Mill should not be allowed to fail. It’s well-loved, high-profile, and we’re ready to grow it even further. This investment marks the beginning of an exciting new chapter.”

Ian McDougall, interim chief executive of Eden Mill, added: “We remain committed to celebrating St Andrews’ proud distilling tradition and delivering exceptional gin, whisky and visitor experiences. We’re delighted Ruby Capital has stepped in to secure our future, and there will be no immediate changes for employees, customers or suppliers.”

Eden Mill was founded in 2012 by Tony Kelly and Paul Miller and currently produces lines including Golf Gin, Love Gin, bourbon cask and sherry cask whisky and Smoked Salt sugar syrup.

Ruby Capital was launched by entrepreneur Banks in 2023. In the hospitality supply chain it has invested in companies including tomato juice brand Tongue in Peat and sister sauce brand Peat’d.