Hillhouse Capital Management is set to acquire Scotland-based whisky producer Loch Lomond from Exponent Private Equity.

The whisky business was purchased from the Bulloch family in 2014. Since then, Exponent Private Equity has made significant investments in its brand portfolio, distillery, bottling infrastructure, global distribution platform and management team.

Loch Lomond Group CEO Colin Matthews said: “Over the past five years, we are proud to have transformed The Loch Lomond Group into a premium international spirits business with a strong focus on innovation and a portfolio of award-winning brands.

“We believe now is the right time to move forward into the next stage of our growth strategy as we look to innovate further, extend our portfolio of brands and continue to expand our international presence, particularly in Asia where Hillhouse has significant experience.”

Loch Lomond operates malt and grain distilleries at Alexandria in Dunbartonshire, the Glen Scotia distillery in Campbeltown, and has its own bottling plant in Catrine.

The company currently generates around 70% of its revenue from more than 100 international markets, versus less than 10% at acquisition.

The acquisition by Hillhouse is expected to further increase Loch Lomond’s international presence, particularly in Asia.

Hillhouse Capital partner Wei Cao said: “Loch Lomond’s rich heritage in Scotch whisky gives the business a distinct advantage as they look to further build on their success across the world, especially in the increasingly discerning Asian spirits market.”