Drinks wholesaler Inverarity Morton eyes fresh acquisitions

Published: 03 July, 2012

Scottish drinks wholesaler Inverarity Morton is aiming to hit £50 million turnover this year, and grow the business by 10% each year over the next three years.

The ambitious growth plans were revealed by managing director Stephen Russell, who said the firm is targeting growth in England and isn't ruling out further acquisitions.

One year on from the merger of Inverarity Vaults and Wm Morton, the company has rebranded itself and will invest £400,000 in total this year in the firm. "It would have been madness to have bought Inverarity and then binned their name - we would have lost customers. As it is we've not lost any. Not losing our identity was crucial."

The firm merged back office and warehousing functions back in February which saw its Symington depot close and three members of staff made redundant.

Russell describes the business as a "composite wholesaler" which offers wine, beer, spirits and soft drinks. Wine accounts for 35% of sales.

"It will be as hard for us to break into England as it will be for others to break into Scotland. The biggest factor will be finding the right people.

"There are still growth opportunities in Scotland, but there's also the possibility of further acquisitions. I wouldn't rule anything out," said Russell.

The group now has 1,100 wines on its list, and supplies all Scottish Michelin-starred restaurants, the G1 group and the Di Maggio Group.

Hamish Martin, founder of Inverarity Vaults and board member at Inverarity Morton, said restaurants are now looking to work more collaboratively with suppliers in drawing up wine lists. Price is still a major issue for customers, he added. "Getting the right wine at the right price is key," said Martin. Around 90% of its wines are priced £13 and under.

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