The UK spirits group, Kyndal, has unveiled a new "strategic vision" for the company which includes a £70m investment programme in upgrading equipment, brand marketing and the consolidation of its bottling operations. The company, which says it will be "refocused and revitalised for long term growth", has also changed its name to Whyte & Mackay.

The company unveiled a new corporate strategy to increase revenues, market share and profitability. This will include a "significant investment" in branding and own label initiatives, an intense focus on customer and consumer satisfaction, and a thorough restructuring programme which will result in some 200 redundancies, reducing the company's workforce from 700 to 500.

"It is appropriate we are naming the company after our founders, Whyte and Mackay, two Scottish businessmen who were highly focused on quality and customer needs," said chairman and CEO, Vivian Imerman. "Their commitment to product quality is deeply entrenched in our culture and still garners our products industry recognition. We have renamed the company in line with the new vision and strategic focus, which will, together with the significant investment, reverse our slowly deteriorating market position. The restructured company will enable the senior executive team and Whyte and Mackay's hard working employees to free the untapped potential of the company's own label and branded business."

The £70m investment package will be divided between strategic brand development and restructuring. Some £50m will be invested in strategic marketing supporting Whyte and Mackay's core brands - Whyte and Mackay, Vladivar and the malt portfolio, which includes Isle of Jura and The Dalmore, and the own label business, while £20m will be spent on restructuring the operations of Whyte and Mackay to create "a lean and highly competitive company".