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UK: Edrington makes further disposals

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Edrington, the independent Scotch whisky group, has sold its Glengoyne distillery at Dumgoyne and the Glengoyne and Langs brands to Ian Macleod & Co. The total consideration has not been revealed but the deal includes sufficient stocks for the purchaser to continue to develop the brands, Edrington said.

The news follows hard-on-the-heels of an announcement from Edrington last Thursday that Burn Stewart Distillers had purchased its Bunnahabhain and Black Bottle brands.

Ian Good, chairman and chief executive of Edrington, commented: "This latest disposal, along with the sale of Bunnahabhain/Black Bottle, is in line with the group's strategy of concentrating our investment resource behind developing our core brands."

The group decided to sell the business following a number of approaches from outside parties and was advised on the deal by Noble Grossart, the Edinburgh merchant bank.

Edrington said that its strategic aim is to concentrate investment behind developing its flagship brands - The Famous Grouse, Cutty Sark, The Macallan and Highland Park.

Good said: "We are convinced that our future success will come from focusing even more on our strengths. That means targeting our marketing efforts on those areas of the business where we are establishing significant market positions, which will lead to greater growth. I believe that this divestment is in the best interests of employees, the brands concerned and the Edrington Group."

Glengoyne distillery employs 25 people, but Edrington does not anticipate that the transfer of ownership will result in job losses. The position was explained to employees yesterday.

The deals mean that Edrington now has 10 operations, five of them distilleries, all located in Scotland, employing around 800 people. The distilleries are The Macallan, Glenrothes and Tamdhu, all on Speyside,
Highland Park at Kirkwall, and Glenturret (The Famous Grouse Experience) at Crieff . In addition, it is the joint owner of North British, the leading grain distillery in Edinburgh, and also runs its own cooperage at Addiewell in West Lothian.

Glengoyne/Langs has been part of Edrington since 1965.


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