Glenturret distillery sold to French wine company
Spirits group Edrington has agreed to sell The Glenturret malt whisky distillery in Crieff – one of Scotland’s oldest working distilleries – to a French wine company.
The distillery and brand was put up for sale in June so Edrington could focus investment on its single malt brands, including The Macallan and Highland Park, and blended whisky The Famous Grouse. Its Cutty Sark brand was also put up for sale, which in November was sold to French spirits group La Martiniquaise for an undisclosed sum.
Glenturret has since been bought by the French fine wine company Art & Terroir, whose business is mainly focused on the production and distribution of high-end wines. With this acquisition, the company will enter the Scotch whisky and spirits business.
With a history dating back 240 years, Glenturret is Scotland’s oldest working distillery, said Edrington. Based on the banks of the River Turret in Crieff, Perthshire, it has been a popular visitor attraction in the region for 40 years.
“When we announced the sale in June, we were clear that we expected that all jobs would be safeguarded and we are pleased that negotiations have settled on a good result for Edrington and Art & Terroir, and one which will protect all our employees at Glenturret,” said Edrington chief executive Ian Curle.
“We are pleased to be placing The Glenturret in the hands of Art & Terroir and we know that the distillery will thrive under their management.”
Art & Terroir Managing Director Silvio Denz added: “We are proud to take ownership of this fine and historic distillery. The Glenturret is the perfect choice as we enter the world of Scotch whisky and we are looking forward to working with the existing team to bring even greater success to this superb single malt and to its beautiful Perthshire surroundings.”
The sale is expected to be completed in spring 2019. Edrington will provide operational and technical support to Art & Terroir during a transition period.