Highland Spring has agreed to buy Speyside Glenlivet Water Co, after the group collapsed into administration earlier this month.

Highland Spring, which is the second biggest bottled water brand in the UK, said on Friday (23 March) that it has stepped in to buy Speyside from joint administrators Colin Murdoch and Donald McNaught, of Invocas Business Recovery and Insolvency Limited.

A fee for the deal was not disclosed.

Moray-based Speyside, which supplies mineral water to top restaurants and hotels,, including the Dorchester in London and the Ritz in Paris, announced on 10 March that it had fallen into administration, sparking concern over the future of its 13-strong workforce.

Highland Spring CEO Les Montgomery: "There is strong demand for top quality glass brands of bottled water and we are committed to building the brand and growing the business through the investment, distribution and marketing opportunities that we bring to this business."

"Speyside Glenlivet has an excellent reputation at the top end of the market. The brand's Scottish provenance and elegant design provides first rate marketing potential and I believe our expertise in the bottled water market will help us to develop Speyside Glenlivet into a valuable player in the category."