Edrington has sold its Cutty Sark Scotch whisky brand to French spirits company La Martiniquaise-Bardinet, the owner of Glen Moray.
Cutty Sark was launched in 1923 and Edrington has had an association with the brand since the 1930s.
As part of the deal, Edrington will continue to provide blending and bottling and other services during a transition period. The companies said the transfer is expected to be completed within a month.
Ian Curle, chief executive of Edrington, said: “Cutty Sark is a great Scotch whisky and has been a worldwide whisky icon for the last 90 years. We are pleased to be transferring the brand to La Martiniquaise and know that it will thrive under their ownership. We wish them all the very best for the future with this great brand.”
Jean-Pierre Cayard, president of La Martiniquaise-Bardinet, said: “We are proud to take ownership of this powerful brand. Cutty Sark perfectly complements our portfolio of international brands including Label 5, Sir Edward’s & Glen Moray Scotch Whisky, Poliakov Vodka, Porto Cruz and Negrita & Saint James Rum.
“This acquisition is a major step forward to accelerate our international expansion. It will further strengthen our position in Europe and boost our presence in key markets such as the US and Japan.”
Earlier this year, Scotland-headquartered Edrington expanded into the US whiskey market for the first time through a new strategic partnership with Wyoming Whiskey.
The company also opened a £140 million distillery and visitor centre in Speyside, Scotland, for its whisky brand The Macallan.
© FoodBev Media Ltd 2019