Private equity firm takes control of Loch Lomond
A private equity firm has acquired The Loch Lomond Distillery for an undisclosed sum, hiring an ex-Diageo boss as its new chair.
Exponent Private Equity, a private equity firm specialising in UK business investments, will take control of the Loch Lomond Distillery at Alexandria, West Dunbartonshire, Scotland, as well as the company’s assets, including the Glen Catrine packaging plant in Ayreshire, and the Glen Scotia malt distillery in Campbeltown, Argyll and Bute.
Under the agreement, the firm will also take control of the Loch Lomond and Glen Scotia single malt whisky brand, High Commissioner blended Scotch whisky and Glen’s Vodka.
The terms of the deal have seen The Loch Lomond Distillery Company’s assets acquired by the newly-formed Loch Lomond Group, in which Exponent owns a majority stake.
Management of the new group will be lead by CEO Colin Matthews, who was previously responsible for leading Imperial Tobacco in Africa, the Middle East, Asia and the Indian subcontinent.
Former Diageo chief financial officer Nick Rose will chair the new business.
“Loch Lomond, Glen Catrine and Glen Scotia have built a sound business platform with brands that perform well in the UK and in a number of international markets,” said Matthews.
“The growth of the Scotch whisky industry in recent years offers a great opportunity to develop further the Loch Lomond business, to refresh and expand the product portfolio, and to move into a number of new international markets building on the excellent progress the company has already made.”