According to reports in the Scottish press, the Caribbean company, CL Financial, is set to make a further acquisition in Scotland, following its £49m acquisition of Burn Stewart last year.

The Trinidad-based company, which owns the Angostura bitters brand, is reported to be in negotiations to acquire the Islay distillery, Bunnahabhain, and the Black Bottle brand for about £10m from the Edrington Group.

CL has not commented on the speculation but The Scotsman reported that sources have said talks between the company and Noble Grossart, Edrington's financial adviser, "are at an advanced stage".

Noble Grossart is said to have been looking for potential buyers for non-core Edrington businesses, including Bunnahabhain, Black Bottle, the Glengoyne distillery and the Langs Supreme brand, following the group's decision to focus on The Famous Grouse and Cutty Sark and the MaCallan and Highland Park malts.