Remy Cointreau buys Bruichladdich Distillery
- 23 July 2012
- From the section Scotland business
Drinks giant Remy Cointreau has agreed to buy Hebridean distillery Bruichladdich for £58m.
The acquisition marks the French company's first move into the premium single malt Scotch whisky market.
Remy Cointreau said the deal maintained its strategy of investing in international premium spirits with strong "savoir-faire".
Under the deal, it will buy Bruichladdich's entire share capital and assume an estimated debt of £10m.
The Victorian distillery on the isle of Islay was resurrected from closure in December 2000 after being bought by a group of private investors led by Mark Reynier.
Brands already in the French drinks firm's portfolio include Remy Martin cognac, Cointreau and Metaxa.
Remy Cointreau chief executive Jean-Marie Laborde said: "The acquisition of Bruichladdich, a renowned Islay single malt with a rich and exciting heritage, is a great opportunity to enrich our high-end portfolio of brands and to confirm our strategy in the spirits luxury segment."
Bruichladdich chairman Sir John Mactaggart said it was an "excellent" transaction for the distillery and the Islay community.
The deal is expected to be completed within the next six weeks.