The company has said that the sale of the two brands, will enable greater focus and investment to support the long-term growth of its premium whisky portfolio, which includes The Macallan, The Famous Grouse, Highland Park and The Glenrothes.
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| Edrington to sell off its Cutty Sark and Glenturret whisky brands |
Cutty Sark blended Scotch whisky, has been owned by Edrington since 2010 and enjoys leading market positions in Spain, Greece and Portugal. Glenturret is Scotland’s oldest single malt Scotch whisky distillery and includes the visitor centre for The Famous Grouse.
The sale of the Cutty Sark and Glenturret brands, was announced as part of Edrington’s financial results statement, for the year ending 31 March 2018, where it also announced that the company had increased its overall revenue by 7% to £706.7m.
Commenting on the news, Graham Hutcheon, Group Operations Managing Director, said: “The impact can be managed over time. Our intention is to offer blending and bottling facilities to a new owner. If that should not prove appropriate we do not anticipate any compulsory redundancies and would endeavour to redirect our people to the dynamic premium developments at Great Western Road.”
The sale process will commence later this summer and is not expected to involve any redundancies.
Posted by Steve Rush