Millburn Pall Mall Gazette 16th April 1923
This is a prospectus for Booth's Distillery Limited, who had acquired Millburn distillery in 1921, work had begun in 1922 to rebuild the distillery following a devastating fire.
This may, or may not, have played a part in the decision to seek further capital from a new market. The pitch includes confirmation that A.P. and D.P. Haig sold Millburn on 31st January 1920. There is also a further outline of other acquisitions, as Booth's attempted to grow and diversify.
The debentures themselves are secured by 'specific first mortgage upon the distilleries and other properties.' This approach was nothing revolutionary, as Glen Albyn distillery (also in Inverness) had done something similar several years prior.
The reality of the situation was that Millburn would remain within the Booth's portfolio until 1937, when the much larger and financial robust, Distillers Company Limited, would acquire this distilling outpost.
Post a Comment