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Edrington offloads The Glenturret Scotch distillery and brand

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Edrington has closed the year with the divestment of its The Glenturret Scotch whisky distillery and brand, with Swiss wine group Art & Terroir marking its entry into the Scotch segment.

Edringtons premium spirits focus prompted its decision to offload Cutty Sark and The Glenturret

Edrington's premium spirits focus prompted its decision to offload Cutty Sark and The Glenturret

The two companies confirmed earlier today that they have struck a deal for The Glenturret. The deal follows the sale of the Cutty Sark blended Scotch brand to La Martiniquaise-Bardinet last month, as Edrington pursues a premium spirits strategy.

Financial details behind both transactions were not disclosed.

"When we announced the sale in June, we were clear that we expected that all jobs would be safeguarded," said Edrington chief executive Ian Curle. "We are pleased that negotiations have settled on a good result for Edrington and Art & Terroir, and one which will protect all our employees at Glenturret.

"We are pleased to be placing The Glenturret in the hands of Art & Terroir and we know that the distillery will thrive under their management."

Glenturret is Scotland's oldest working distillery, Edrington noted. The facility produces single malt whisky that also forms part of Edrington's The Famous Grouse blended Scotch. A spokesperson for Edrington told just-drinks in June that replacement liquid for The Famous Grouse would be sourced from elsewhere.

Art & Terroir's MD, Silvio Denz, added: "Glenturret is the perfect choice as we enter the world of Scotch whisky and we are looking forward to working with the existing team to bring even greater success to this superb single malt and to its beautiful Perthshire surroundings."

Art & Terroir produces and distributes higher-end wine. The company owns wineries in Saint-Emilion and Sauternes in France as well as one in Italy.

Today's purchase will complete in the first quarter of next year.

Earlier this month, CEO Curle announced his intention to retire in March next year.

Ian Curle - the quiet CEO who dragged Edrington into the 21st Century - Click here for a just-drinks comment


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