The Glenturret, which is Scotland’s oldest Single Malt Scotch Whisky distillery, and includes the visitor centre for The Famous Grouse, will go on sale this summer with all 31 employees at the distilling site at Crieff set to transfer to a new owner.
Current owners Edrington are expecting a lot of interest prospective purchasers as they look to sell both the distillery and the Cutty Sark Blended Scotch Whisky brand.
Cutty Sark is blended and bottled at Edrington’s Great Western Road facility, accounting for around 10 per cent of volume output at the site.
Graham Hutcheon, Group Operations Managing Director, said the impact can be managed over time, adding: “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 group is looking to dispose of its Cutty Sark rum and Glenturret whisky brands to be able to increase its focus on its key products which also include Highland Park, The Glenrothes and Brugal Rum.
The news came as the Glasgow-based company announced core revenues rose 7 per cent to £706.7 million last year.
Edrington chief executive Ian Curle said that the proposals to sell Cutty Sark and Glenturret “will enable greater focus and investment to support the long-term growth of the company’s premium portfolio”.
He said: “Premium spirits is the fastest growing area of the spirits market. Focussing our resources and investment on the brands best equipped to compete powerfully will help Edrington to capitalise on the long term prospects from premium spirits,” he said.