Edrington sells Cutty Sark to La Martiniquaise-Bardinet
Scottish spirits firm Edrington has sold its blended Scotch whisky brand Cutty Sark to French drinks group La Martiniquaise-Bardinet for an undisclosed sum.
The Macallan producer first announced plans to sell Cutty Sark and Glenturret in June this year. The agreement will allow Edrington to focus on its premium spirits portfolio.
Edrington confirmed that the Glenturret sale will be managed separately and “is progressing in line with expectations”.
As part of the deal – which is expected to be completed within a month – Edrington will provide blending and bottling facilities during a transition period.
Cutty Sark, the leading blended Scotch in Spain, Greece and Portugal, joined Edrington’s stable in 2010. It was launched in 1923 and has ties with Edrington dating back to the 1930s.
The brand is blended and bottled at Edrington’s Great Western Road facility, accounting for around 10% of volume output at the site.
“We are pleased to be transferring the brand to La Martiniquaise-Bardinet and know that it will thrive under their ownership,” said Ian Curle, chief executive of Edrington.
“We wish them all the very best for the future with this great brand.”
Jean-Pierre Cayard, president of La Martiniquaise-Bardinet, added: “Cutty Sark perfectly complements our portfolio of international brands including Label 5, Sir Edward’s, Glen Moray Scotch whisky, Poliakov vodka, Porto Cruz, Negrita and Saint James Rum.
“This acquisition is a major step forward to accelerate our international expansion. It will further strengthen our position in Europe and boost our presence in key markets such as the US and Japan.
“With Cutty Sark, we consolidate our position in Scotch whisky, entering in the world’s top five groups.”
Headquartered near Paris, independent firm La Martiniquaise-Bardinet was founded in 1934 and operates in over 100 countries with 30 production sites.
In June this year, Edrington opened its new £140m distillery for The Macallan, which will increase the brand’s production by a third.