Bruichladdich Sold to Remy Cointreau
Remy Cointreau UK Limited, a wholly owned subsidiary of the Remy Cointreau Group has agreed to acquire Bruichladdich Distillery Company Limited ("Bruichladdich"), the Islay single malt Scotch whisky distiller.
The transaction marks the group's first move into the premium single malt Scotch whisky market, a category experiencing strong growth all over the world, especially in the very high-end segment. This deal sustains Remy Cointreau's long term value strategy, geared to investing into international premium spirits with strong "savoir-faire".
Bruichladdich, the progressive Hebridean distiller, was purchased in December 2000 by Mark Reynier and a group of private investors who resurrected the Victorian distillery developing it in to an exciting brand with worldwide acclaim.
Total transaction value amounts to £58m, comprising of £48m for the acquisition of the entire share capital of Bruichladdich and estimated debt of £10m that Remy Cointreau will assume.
Jean-Marie Laborde, Chief Executive Officer of Remy Cointreau 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. We expect Bruichladdich to sit proudly alongside our other brands and we look forward to working closely with Bruichladdich's experienced and passionate management team".
Sir John Mactaggart, Chairman of Bruichladdich declared:
"This is an excellent transaction for Bruichladdich, the Islay community and a wonderful opportunity for the company to reach its full potential, under the stewardship of Remy Cointreau with their strong distribution network and their experienced brand development. I'm confident that Bruichladdich will establish itself as one of the Scotch whisky industry's best known and acclaimed premium brands."
Completion of the transaction is expected to occur within 6 weeks.