UPDATE: Bacardi to build new Scotch plant
Bacardi is looking to focus on the premium status of its Dewar's Scotch whisky portfolio, with the opening of a new facility in Scotland.
The company confirmed today (8 November) that it has acquired a 106-acre area of land in the country to build a second maturation, blending and storage facility for John Dewar & Sons, its Scotch whisky unit.
Speaking to just-drinks, Dewar's managing director Garry Gray confirmed the plans, adding that the growth of demand in the Far East fueled Bacardi's decision to acquire the plot.
"The investment is part of a US$250m programme which Bacardi will phase in over the next ten years," Gray said. "We're seeing strong growth for our premium portfolio in the Far East, particularly in China, where consumers are becoming more and more interested in premium spirit products, and India, where Scotch's popularity will grow following the recent tarif abolitions."
Gray declined to comment on the specific financial details behind the purchase, saying only that the "majority" of the $250m investment would go into acquiring and building up the new facility, located in South Lanarkshire in Scotland.
Earlier this year, Diageo announced that it was making "one of the biggest ever (investments) in the (Scotch) industry", pumping around $195m into its operations in the country.
"Our investment is very much in line with Diageo's," Gray added. "They're seeing the same growth trends as we are."
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