Edrington unveils buyer of The Glenturret
Spirits company Edrington, whose brands include The Famous Grouse and The Macallan, has inked an agreement to sell The Glenturret malt whisky distillery and brand to a high-end wine specialist.
The unveiling of the sale to Art & Terroir follows Edrington in June announcing that it was seeking a new buyer for Glenturret, Scotland’s oldest working distillery, which is based on the banks of the River Turret in Crieff, Perthshire.
The site has been crafting single malt Scotch whisky for more than 240 years and has been a top whisky visitor attraction for almost 40 years.
And the move by Edrington comes as it focuses investment on its core portfolio of premium products, while marking Art & Terroir’s debut in the Scotch whisky and spirits business.
Ian Curle, chief executive of Edrington said: “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. 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.”
Silvio Denz, MD of Art & Terroir, commented: “We are proud to take ownership of this fine and historic distillery. 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 agreement is expected to be completed in spring 2019 and Edrington will provide operational and technical support to Art & Terroir during a transition period.