BenRiach Distillery buys GlenglassaughBy Becky Paskin
BenRiach Distillery Company has acquired Glenglassaugh Distillery from its Amsterdam-based owner Lumiere Holdings for an undisclosed sum.
The Banffshire distillery, which has garnered much attention since reopening in 2008 following a 22-year closure, has the capacity to produce up to 1.1 million litres of whisky a year.
BenRiach, which purchased GlenDronach Distillery in 2008, intends to bring Glenglassaugh, which dates back to 1875, back to its former glory through a monetary investment.
“We’re really delighted to buy Glenglassaugh, a renowned Highland single malt with a rich and distinguished heritage,” said Billy Walker, master blender and co-owner of BenRiach. “It’s an excellent complementary fit with our existing BenRiach and GlenDronach brands. Part of its attraction to us is that it isn’t too large for our portfolio but its potential in contributing to the group certainly is.
“I believe our whisky expertise, proven brand-building ability and strong routes to market will help take Glenglassaugh to the next level.”
“The timing is good as there is no doubt we are currently in a golden age for Scotch whisky. There’s unprecedented demand for high-end brands like ours in places like Taiwan, Scandinavia, USA, China, India, Russia, the Middle East, South Africa and South America, and we now have the fantastic opportunity to re-introduce Glenglassaugh to these markets.”
Since its reopening five years ago, Glenglassaugh has produced two new single malt Scotch whiskies.
Revival, a 46% abv bottling aged in a mixture of first and refill Bourbon casks and finished for six months in first fill olorose Sherry butts, was released in May 2012.
Evolution, a 57.2% abv bottling aged in ex-Bourbon barrels, launched in November 2012 with a limited release of just 6,000 bottles.
In June last year the distillery revealed it had already turned a profit two to five years earlier than forecast.
Stuart Nickerson, managing director of Glenglassaugh, said: “It’s great to be back in Scottish hands. We’ve grown the business significantly and today’s announcement means continued investment and will also allow the business to grow further and more rapidly.”