Whisky worth about £150,000 has been stolen from a distillery visitor centre in Speyside.
The break-in happened at Glenfarclas distillery, near Ballindalloch, in the early hours of Sunday.
The firm said it was "horrified" that valuable bottles including a 60-year-old malt were stolen, after cabinets with strengthened glass were smashed.
Police Scotland said it was seeking two men in connection with the incident and is appealing for witnesses.
Glenfarclas production manager Callum Fraser told BBC Scotland that staff were upset about what had happened.
"They obviously knew exactly what they were looking for," he said.
"They made their way straight to our cabinet that holds our most expensive whisky. The whole episode lasted about four minutes."
Police Scotland Det Sgt Graeme Skene said: "We believe the men travelled to the area and we would appeal to hoteliers, bed and breakfast establishments and Airbnb premises to get in touch if they suspect anyone of being suspicious.
"Those responsible will be looking to sell on the alcohol. If you are offered alcohol at a discounted price, you would be wise to suspect it has been stolen. It is a criminal offence to buy stolen goods."