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The £300 Malt
Glenmorangie chairman, Keith Edelman, said the deal would allow the company to "realise the full potential" of its brands, particularly in the export market.
FRENCH luxury goods company, Moët Hennessy, is to acquire Glenmorangie plc for £300m after the Macdonald family agreed to sell its 52% stake in the Scotch distillery.
Glenmorangie chairman, Keith Edelman, said the deal would allow the company to "realise the full potential" of its brands, particularly in the export market.
"This is a very good deal, both for our shareholders and for our employees," he commented. Moët Hennessy says it will protect the employment and pension rights of the firm’s 350 staff.
Brown-Forman, one of the other companies bidding for Glenmorangie, is also selling its 10% holding for US$92m (£51m).