Brown-Forman Buys 3 Scotch Whiskey Distilleries for $416 Million
Brown-Forman has once again gone fishing across the pond and this time it came home with three big fish – three whiskey distilleries. Brown-Forman has agreed to purchase The BenRiach Distillery Company Ltd for $416 Million (£285 million.) The purchase will include brand trademarks, three malt distilleries, a bottling plant, and the company’s headquarters in Edinburgh, Scotland. The BenRiach Distillery Company, which has a workforce of 165 employees and 55 seasonal workers will operate as a subsidiary of Brown-Forman.
Purchasing 449 Years of Combined Whiskey History
“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,” said Brown-Forman Chief Executive Officer Paul Varga. “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.”
“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,” said Billy Walker, managing director of The BenRiach Distillery Company Limited. “Our team has energized 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.”
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BenRiach Distillery Company Ltd History
In 2004, the BenRiach Distillery Company Ltd was established with the acquisition of the BenRiach Distillery by an independent consortium led by Billy Walker. In 2008, the company purchased the GlenDronach Distillery and in 2013 they acquired the Glenglassaugh Distillery.
1. The BenRiach Distillery
Located in the heart of Speyside, The BenRiach Distillery began making malt whisky in 1898 and is known for experimenting with wood finishes producing whisky from both non-peated and peated malted barley. The BenRiach Distillery was mothballed in 2002. In 2004 the distillery was reopened when the BenRiach Distillery Company Ltd was established with the acquisition of the BenRiach distillery.
2. The GlenDronach Distillery
The GlenDronach Distillery, located in the hills of the Scottish Highlands, was founded in 1826. GlenDronach produces a range of ultra-premium single malt whiskies and is most noted for its richly sherried whiskies. In 1996 the distillery was mothballed and reopened again in 2001. In 2008 it was sold to the BenRiach Distillery Company Ltd.
3. The Glenglassaugh Distillery
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 distillery was mothballed in 1986 and sat dormant for 20 years until it was purchased by a group of investors and started production again in 2008. In 2013, The BenRiach Distillery Company LImited took over Glenglassaugh distillery.
The transaction, which is subject to customary closing conditions, is expected to close on or about June 1, 2016.