Pernod Ricard to sell Glenallachie Distillery to Scottish consortium
French spirits group Pernod Ricard has signed an agreement to sell its Glenallachie Distillery in Scotland to a consortium led by BenRiach Distillery's former managing director Billy Walker.
The sale agreement will be executed through the French firm’s subsidiary Chivas Brothers. The Glenallachie consortium also includes Graham Stevenson and Trisha Savage.
As per the terms of the agreement, the Glenallachie consortium will take control of Glenallachie single malt brand and White Heather blended scotch brands. The sale will also include relevant inventories to support future development of these brands.
In a statement, the Glenallachie consortium said its mission “is to be a wholly Scottish owned, Scottish based, and truly independent Scotch whisky company producing excellent whiskies and offering them to the market at premium but affordable prices”.
Subject to customary conditions, the transaction is expected to be completed by the end of this year.
The Glenallachie Consortium has received legal advice from Macdonald Henderson and accountancy and tax advice from Grant Thornton. Fluxion Advisors and Shepherd and Wedderburn advised Pernod Ricard in this transaction.
Built in 1967, the Glenallachie distillery was acquired by Pernod Ricard subsidiary Campbell Distillers in 1989.