Distillery Company buys Glenglassaugh
for undisclosed sum.
The BenRiach Distillery Company today
completed the purchase of the
Glenglassaugh whisky distillery which is
situated on the Banffshire coast close
to the village of Portsoy.in Banffshire.
Glenglassaugh, one of Scotlandís oldest
distilleries which was established in 1875,
was purchased from its owners, the
Amsterdam-based Lumiere Holdings, for an
undisclosed sum. Glenglassaugh was
brought back to life in 2008 by the
private investor Lumiere Holdings after
it was mothballed in 1986, it had been closed for 22 years. Today
it produces a range of single malt
whiskies and currently has the
production capacity of 1,100,000 litres
of whisky a year.
Edinburgh-headquartered BenRiach is led
by industry veteran and master blender
Billy Walker and his partners, South
African whisky entrepreneurs Geoff Bell
and Wayne Kieswetter.
An upbeat Mr Walker said: "Five years
ago, our acquisition of GlenDronach
surprised and delighted whisky
connoisseurs around the world and today
we are confident that our latest
intriguing acquisition will have the
same positive effect.
"Weíre really delighted to buy
Glenglassaugh, a renowned Highland
single malt with a rich and
distinguished heritage. Itís an
excellent complementary fit with our
existing BenRiach and GlenDronach
brands. Part of its attraction to us is
that it isnít too large for our
portfolio but its potential in
contributing to the group certainly is.
"Itís our intention to bring this iconic
distillery fully back to life by giving
it the investment, commitment and care
it deserves. I believe our whisky
expertise, proven brand-building ability
and strong routes to market will help
take Glenglassaugh to the next level."
Mr Walker added: "The timing is good as
there is no doubt we are currently in a
golden age for scotch whisky. Thereís
unprecedented demand for high-end brands
like ours in places like Taiwan,
Scandinavia, USA, China, India, Russia,
the Middle East, South Africa and South
America, and we now have the fantastic
opportunity to re-introduce
Glenglassaugh to these markets."
Mr Walker continued: "I would like to
thank the Royal Bank of Scotland who
have seamlessly facilitated the deal."
Glenglassaugh's Managing Director Stuart
Nickerson said: "It's great to be back
in Scottish hands. Glenglassaugh is a
fantastic brand that was unheard of five
years ago and today is exported to over
twenty-five countries worldwide. It's
highly regarded as a premium brand and
has won numerous top awards. We've grown
the business significantly and today's
announcement means continued investment
and will also allow the business to grow
further and more rapidly."