UK: Tullibardine Scotch distillery eyes sale
Scotch whisky distillery Tullibardine has confirmed that it has hired Swiss investment bank UBS to assess potential takeover offers.
Tullibardine director Michael Beamish told just-drinks today (29 July) the group hired UBS in response to informal interest from an undisclosed party "with some involvement in the industry".
Speculation has grown in recent weeks that the Highlands-based distillery, which had been mothballed until Beamish and partners bought it in 2003, could be sold.
Beamish insisted Tullibardine was "not up for sale", but added: "We've just finished our financial year and made a profit for the first time. There's no reason to sell the business, but anything is for sale at the right price." He declined to comment on the distillery's value.
The healthy state of Scotch whisky exports meant there were "a lot of people sniffing around the industry", Beamish added.
Tullibardine was founded in 1949 and has a capacity of 2m litres.
Takeover talk has been rife in Scotch recently, with speculation that Pernod Ricard is looking to offload several minor brands, and reported interest in the Glen Moray distillery from Whyte & Mackay, owned by India's United Spirits.
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