Whyte & Mackay has dismissed reports in India that the UK distiller has been sold to UB Group - but admitted that it has received offers for parts of its business.

The Glasgow-based distiller has been the subject of takeover speculation in recent months with reports in India and the UK linking UB to the company.

However, Whyte & Mackay chairman and chief executive Vivian Imerman said reports late last week of a GBP400m (US$747m) sale of the company were wide of the mark.

"I would like to confirm that Whyte & Mackay has not been sold," he said at the weekend. "We have received offers for part of the business and are continuing to evaluate all of our strategic options."

Whyte & Mackay has seen rising interest in the company after a revamp of the company's brands led to rising sales.

The company had received several offers for its Invergordon Distillers business, which mainly produces own-label Scotch, after putting the business up for sale last year.

However, the rise of own-label prices in the UK, combined with the rising demand for aged Scotch and the growth of emerging markets in Asia and Latin America, led Whyte & Mackay to decide to hang on to the business.

Imerman said: "We are in the middle of a GBP100m investment programme and have great confidence in the business to perform well over the next five years. We are dedicated in our vision to become an agile international spirits business with our core brands Whyte & Mackay, Vladivar, Jura, The Dalmore and Glayva."