Scotland business

Drinks supplier rebranded as Inverarity Morton

Hamish Martin and Stephen Russell
Image caption Inverarity Vaults and Wm Morton merged last July

A major drinks supplier has rebranded itself as part of a planned £400,000 investment programme for 2012.

Inverarity Morton is the result of a merger six months ago between wine merchant Inverarity Vaults and licensed trade supplier Wm Morton.

The company plans to upgrade all back office, stock management and delivery software systems and add new vehicles to the fleet.

Inverarity has a combined turnover of more than £50m and a workforce of 150.

The distributor also plans to close one of its distribution depots and move all operations to its Shawbridge headquarters in Glasgow this year.

Explaining the reasons for the new company name, managing director Stephen Russell said: "There is so much intrinsic value in the individual names and what they represented that I did not wish to strip away any of that in the rebrand.

"We wanted to make a positive and deliberate statement with the name change.

"It is the fusion on an equal footing of two established and successful businesses to make an even stronger force in the licensed trade and we are looking forward to what this new era will bring."

The company plans to make savings with the closure of its Symington depot in South Lanarkshire, which had been home to Inverarity Vaults for more than a decade. Three administrative support jobs will be lost with the move.

Mr Russell added: "When we merged the companies six months ago, we chose to trade as two separate businesses over the short term so we could assess where efficiencies could be made in the future.

It would have been counter-productive to rush through changes without first conducting a 'health check', if you like, of both operations.

"We have now completed this assessment and drawn two conclusions - we are overstaffed in certain areas of the business and it is unnecessary for us to continue to run two distribution depots."

In 2010 Wm Morton reported an annual turnover of £46m, up year-on-year by 10%.

Inverarity Vaults, a specialist fine wine merchant, turned over £8.2m, a rise of 11% on the previous year.

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