Scottish spirits company Edrington has agreed to sell its Cutty Sark Scotch whisky brand to French spirits group La Martiniquaise-Bardinet.

Financial details have not been disclosed.

Though Cutty Sark Scotch Whisky was launched in 1923, Edrington became associated with the brand in the 1930s. Completion of the deal is expected within a month.

La Martiniquaise-Bardinet president Jean-Pierre Cayard 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 and Glen Moray Scotch Whisky, Poliakov Vodka, Porto Cruz, and Negrita and 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.”

“This acquisition is a major step forward to accelerate our international expansion.”

During the transition period, Edrington will continue to provide blending, bottling and other associated services.

Edrington chief executive Ian Curle said: “Cutty Sark is a great Scotch Whisky and has been a worldwide whisky icon for the last 90 years. Sorry, there are no polls available at the moment.

“We are pleased to be transferring the brand to La Martiniquaise-Bardinet and know that it will thrive under their ownership. We wish them all the very best for the future with this great brand.”

Edrington was advised by Nomura International and Dentons UK and Middle East during the sale process, while La Martiniquaise-Bardinet was advised by Rabobank and Goodwin.