Spirits producer Edrington is planning to sell its Scottish whisky brands Cutty Sark and Glenturret to support the company’s premium portfolio, which includes The Macallan, The Famous Grouse, Highland Park, The Glenrothes and Brugal Rum.

The company also proposes to sell its Glenturret distillery in Crieff, Scotland, which is reported to be one of the oldest single malt distilleries in Scotland.

Edrington CEO Ian Curle said: “2017-18 was a strong year of growth and increased investment for Edrington.

“Economic and market developments remain encouraging in the near term. All regions are experiencing an upturn in economic growth and Scotch Whisky exports are also in growth.

“The premium segment of Scotch Whisky and other spirit categories is the fastest growing.”

“The premium segment of Scotch Whisky and other spirit categories is the fastest growing, reinforcing Edrington’s emphasis on premium brand building.

“While consumer trends are encouraging, the geopolitical context, including Brexit, remains uncertain.

“Scotch whisky is a robust and successful industry but it does face increasing competition from other authentic spirit categories leading to the 400+ trade barriers faced currently.”

Last month, the company opened a new distillery and visitor experience for The Macallan brand at its Easter Elchies estate near Craigellachie, Scotland.

Edrington plans to invest £500m in the brand, and £140m has been used for the distillery.

The programme is said to have increased investment in whisky, warehousing and production of The Macallan’s signature sherry-seasoned oak casks.