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UK’s richest spirits barons

From a co-founder of Fever-Tree to the families behind Scotch whisky firms Gordon & MacPhail and William Grant & Sons, we reveal the spirits owners with the biggest fortunes in the UK according to The Sunday Times Rich List 2020.

Gordon & MacPhail’s Ewen Mackintosh (left) with Stuart Urquhart (right)

Last weekend, The Sunday Times revealed its 2020 Rich List, which recorded the rise and fall of the UK’s wealthiest individuals.

One Scottish drinks firm has managed to maintain its top spot, while this year’s list also welcomed the family behind Scotch whisky firm Gordon & MacPhail.

Just missing out on a spot, and a new entry to the Rich List at 944, were brothers Sukhinder and Rajbir Singh, founders of spirits retailer The Whisky Exchange. Together, they are reportedly worth £127 million (US$155.5m).

Meanwhile, Fever-Tree co-founder Tim Warrilow was also a near-miss in the top 10 line-up. After occupying the 10th spot on our list last year, Warrilow’s fortune fell by £82m (US$100.4m) to £123m (US$150.5m).

Click through the following pages for more information on the wealthiest families and individuals in the UK spirits industry.

10. Urquhart family

Worth: £140m

Rank in The Sunday Times Rich List 2020: 858

Rank in 2019: 945

Rise/fall: +£15m

The Urquhart family, the fourth-generation owner of Scotch whisky bottler and distiller Gordon & MacPhail, occupies the 10th spot on our list. Gordon & MacPhail’s portfolio includes the Benromach Distillery and its gin brand, Red Door Gin.

Last year, Gordon & MacPhail secured planning approval to build a new Speyside distillery in Cairngorms National Park. The new distillery will be the company’s second, and follows its purchase and refurbishment of the Benromach Distillery.

In January 2019, Gordon & MacPhail appointed Stuart Urquhart (pictured right) to the newly created position of operations director.

In October, the company released a 62-year-old Glen Grant single malt in honour of George Urquhart, a member of the second generation of the company’s owning family.

9. Joe Sloan and Brenda Salters and family

Worth: £152m

Rank in The Sunday Times Rich List 2020: 799

Rank in 2019: 787

Rise/fall: +£2m

SHS Group founder Joe Sloan and his family are the ninth richest in the UK spirits industry. Belfast-based drinks marketing and distribution firm SHS was founded in 1975 by Sloan and his late business partner Geoff Salters, and is known for producing brands such as WKD, Shloer, Bottlegreen, and Merrydown Cider.

Salters’ widow, Brenda Salters, owns a 50% stake the business and jointly occupies the Rich List’s 799th spot.

8. Aaron and Tania Hillman and family

Worth: £158m

Rank in The Sunday Times Rich List 2020: 774

Rank in 2019: 682

Rise/fall: -£19m

The Hillman siblings, Aaron and Tania, are behind independent Scotch whisky business Angus Dundee Distillers. The company was founded by their father, Terry Hillman.

London-based Angus Dundee owns the Tomintoul and Glencadam distilleries, operates a bottling plant in Coatbridge near Glasgow and supplies liquid for local bottling.

In June last year, Angus Dundee Distillers received planning permission to build a visitor centre at its Glencadam distillery in the eastern Highlands.

Glencadam is thought to be one of the oldest distilleries in Scotland. It was established in 1825 and closed during both World Wars before being mothballed in 2000.

7. Leonard Russell and family

Worth: £202m

Rank in The Sunday Times Rich List 2020: 601

Rank in 2019: 775

Rise/fall: +£50m

Leonard Russell is the managing director of independent spirits group Ian Macleod Distillers, maker of the Glengoyne, Tamdhu and Smokehead Scotch brands. The company continued to climb the list, growing its wealth by £50m (US$61.2m).

In 2017, the group announced plans to restart production at Lowland distillery Rosebank after purchasing the site from Scottish Canals. The following month, Ian Macleod secured an £80m (US$103m) refinancing package to support the revival of the distillery.

Last year, Ian Macleod Distillers started restoration work on the historic Rosebank Distillery, which was mothballed more than 25 years ago.

Ian Macleod Distillers acquired Edinburgh Gin producer Spencerfield Spirit Company in 2017.

6. Martin Dickie

Worth: £228m

Rank in The Sunday Times Rich List 2020: 537

Rank in 2019: 529

Rise/fall: –

Martin Dickie, who co-founded Scottish brewer Brewdog with James Watt, has a £213m (US$276m) holding in the company.

Earlier this year, Brewdog Distilling, the firm’s spirits arm, added a shōchū to its range.

In 2019, Scottish brewer Brewdog also announced plans to use a new tranche of investment to expand its spirits business and build a small distillery at its US brewery in Columbus, Ohio.

Brewdog’s third US round of its Equity for Punks crowdfunding drive attracted 120,000 investors globally. More than 13,000 American investors have pledged funds to Brewdog since 2017.

The firm said it would use the funds to “quadruple production” compared to 2018 and continue its expansion in the US.

5. James Watt

Worth: £262m

Rank in The Sunday Times Rich List 2020: 495

Rank in 2019: 475

Rise/fall: –

James Watt, along with Dickie, has established Aberdeenshire-based BrewDog as a global brand.

Last year, the company launched a botanical rum and opened its first alcohol-free bar in London.

In 2017, TSG Consumer Partners bought a 23% stake in the company for £213m (US$276m), valuing BrewDog at £1bn (US$1.3bn).

4. Amal and George Clooney

Worth: £275m

Rank in The Sunday Times Rich List 2020: 474

Rank in 2019: 464

Rise/fall: +£5m

Hollywood actor George Clooney and his wife Amal take the fourth spot on our list with a combined wealth of £275m (US$336.6m), an increase of £5m (US$6.1m).

The co-founder of Tequila brand Casamigo’s, Clooney made £173m (US$224m) in 2017 when Diageo bought his Casamigos Tequila brand for an upfront fee of US$700m, with a further US$300m on the table depending on the brand’s performance over the next decade.

The actor co-founded Casamigos Tequila in 2013 with Rande Gerber (pictured right with Clooney) and Mike Meldman. The brand is now said to be the fastest-growing super-premium Tequila in the US.

In February last year, Casamigos extended its spirits offering with the launch of a mezcal made from 100% Espadin agave.

In Diageo’s final six months of 2019, Tequila continued to grow strongly, reporting a 31% increase. The growth was driven by the double-digit growth of Don Julio and Casamigos in the US.

3. Charles Rolls

Worth: £298m

Rank in The Sunday Times Rich List 2020: 448

Rank in 2019: 316

Rise/fall: -£125m

While managing Plymouth Gin, Charles Rolls (pictured left) founded tonic water brand Fever-Tree with Tim Warrillow. He saw his fortunes fall in this year’s Rich List, dropping by £125m (US$153m).

Last month, Rolls announced plans to step down as non-executive deputy chairman of Fever-Tree in June.

Rolls has been active in the drinks industry for many years. In 1997, he acquired an equity stake in Plymouth Gin and became managing director after growing sales 14 times. The brand was sold to Absolut Vodka in 2001.

In Fever-Tree’s 2019 financial results, sales were up 10% compared to the previous year driven by strong growth in the US.

2. Vivian Imerman

Worth: £390m

Rank in The Sunday Times Rich List 2020: 340

Rank in 2019: 339

Rise/fall: –

South African-born Vivian Imerman gained £396m (US$513m) from the sale of Scotch whisky business Whyte & Mackay to India’s United Spirits in 2007. United Spirits later sold the unit to Philippines-based Emperador. Now, Imerman runs London investment firm Vasari, which owns stakes in Ethiopian brewer Dashen and South African wine and spirits producer KWV.

1. Glenn Gordon and family

Worth: £3.19bn

Rank in The Sunday Times Rich List 2020: 49

Rank in 2019: 54

Rise/fall: +£304m

Glenn Gordon is the chairman of William Grant & Sons, the Scottish spirits group that owns Glenfiddich, Grant’s, Hendrick’s gin and a number of other spirits.

William Grant & Sons reported revenue growth of 11.6% for 2018, driven by “healthy” value and volume sales of its core brands.

Last year, the company moved into the low-alcohol category and created a new “accessible” flavoured gin range.

In 2018, William Grant & Sons opened its new distillery and ‘gin palace’ for Hendrick’srelaunched the Grant’s blended Scotch range; and opened a new luxury packaging facility in Scotland called Arete.

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