The Brown-Forman Corporation has reached a definitive agreement to purchase the company which has a workforce of 165 employees, including 55 seasonal and casual workers.
When completed, the purchase will bring three outstanding Single Malt Scotch Whisky brands into Brown-Forman’s growing whiskey portfolio: The GlenDronach, BenRiach, and Glenglassaugh.
The purchase will include brand trademarks, three malt distilleries, a bottling plant, and the company’s headquarters in Edinburgh, Scotland.
Brown-Forman chief executive officer Paul Varga said: “The acquisition of these super premium brands will allow Brown-Forman to re-enter one of our industry’s most exciting and consistent growth segments, Single Malt Scotch Whisky.
“The Glendronach, BenRiach, and Glenglassaugh single malt brands are rich in history and we believe they will continue to prosper and grow in our hands.”
Billy Walker, managing director of The BenRiach Distillery Company Ltd, said: “We feel immensely privileged to have been custodians of this business for the last 12 years, and to be associated with these wonderful brands and great distilleries.
“Our team have energised these distilleries and engaged creatively and successfully with the premium end of the market.
“We are very confident that Brown-Forman will take The GlenDronach, BenRiach, and Glenglassaugh brands to the next level and fulfill their full potential, and prove to be worthy custodians of these historic distilleries.”
The Glenglassaugh Distillery, founded in 1875, is located on the coast in the northern Scottish Highlands overlooking the North Sea producing a coastal Highland malt.
The transaction, which is subject to customary closing conditions, is expected to close on or about 1 June.
The company will then operate as a subsidiary of Brown-Forman.