William Grant & Sons, the owner of Glenfiddich and Tullamore Dew, has acquired the Drambuie Liqueur Company Limited, the owner of the Drambuie whisky-based liqueur.
The acquisition comes after months of speculation and while the exact figure was not disclosed, earlier reports said that the figure was expected to be in the region of £100 million.
Stella David, CEO of William Grant & Sons said "we have a passion and a reputation for nurturing and building brands. Drambuie is a natural fit for our portfolio, it has a very rich history and a great story to tell and we are delighted to be in a position to start to re-engage with existing drinkers and to connect the brand with an entirely new generation of consumers."
Meanwhile, Michael Kennedy CEO of Drambuie said that it would benefit from being part of a "larger, more diverse" organisation which would help Drambuie to "truly achieve its potential".
William Grant has just released record figures of a turnover of £1.12 billion - which is a growth of 5.2 per cent - and 10.6 per cent rise operating profit to £138 million.
© 2014 European Supermarket Magazine – Europe’s grocery retail magazine, for all your breaking supermarket, convenience store and FMCG news. Article written by Nicole Gernon
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