Latest news with #TheFamousGrouse
Evening Standard
19 hours ago
- General
- Evening Standard
Raise a dram for Gordon Motion, the man who gave three decades to whisky
The room filled — as many PRs as whisky writers, and mixologists, plus a few old friends who knew the Motion beyond his title. The whisky did most of the talking. But then came Marc Watson. Watson, sharp-eyed beyond his heavy-rimmed glasses, slightly flushed, has been apprenticing with Gordon for six months. He'd done the courses, won the awards, and ticked the boxes at the interviews: Heriot-Watt Brewing & Distilling, Master Blender for The Famous Grouse, Icons of Whisky Distillery Manager of the Year. But none of that came up. What mattered more was that he came from the same village. His gran lived two doors down from Gordon's dad. When he got the job, which he called 'the job beyond the dream job,' Motion's father rang Watson's father to tell him.
The Herald Scotland
07-07-2025
- Business
- The Herald Scotland
Scotch whisky sector 'historic moment' as major deal done
This deal was first announced back in September 2024. While this is more than nine months ago, the timeframe over which the transaction was finalised is relatively insignificant in the context of how long these two heavyweight distillers have been around. And completion of the deal was probably, if anything, faster than some might have expected. Last week's completion of the deal, to which the Competition and Markets Authority gave the green light in early March, gave Edrington and William Grant & Sons another opportunity to flag the strategic rationale from each of their perspectives. William Grant & Sons talked about an evolution of The Famous Grouse 'into a true global icon'. Edrington, flagging the success of The Macallan single malt in which it has invested very heavily in recent years, highlighted its focus on ultra-premium spirits. Two decades ago, it would probably have been almost inconceivable that Edrington would choose to sell The Famous Grouse blended Scotch whisky, a brand famous for its quirky television adverts and at that time the shirt sponsor for the Scotland national rugby union team. However, in recent years, the prominence of The Famous Grouse in Edrington's results statements had diminished as the group, which also owns Highland Park and The Glenrothes, focused ever more on the successes achieved with its single malts and notably on The Macallan. Read more That meant, by the time the sale of The Famous Grouse was announced last September, it was not a huge surprise even if it was obviously a very major development in a sector that is so important to the Scottish economy and to the exports of both Scotland and the UK as a whole. William Grant & Sons, when the deal was completed last Tuesday, hailed the acquisition as a 'historic moment' for it. This is a company that was founded in 1887, at Dufftown in Speyside, so there is surely a high bar to what constitutes 'historic' for it. The distiller, which owns the Glenfiddich single malt, declared the completion of The Famous Grouse and Naked Malt deal 'demonstrates the company's commitment to the global Scotch whisky category and confidence in the future of the wider spirits industry'. William Grant & Sons, which also produces Hendrick's gin and has a major operation at Girvan in Ayrshire, added: 'The Famous Grouse is Scotland's best-selling whisky and one of the top-selling Scotch whisky brands worldwide, renowned for its quality and heritage.' Søren Hagh, chief executive officer of William Grant & Sons, said he was 'delighted to complete this acquisition and welcome The Famous Grouse into our portfolio'. He described it as 'a remarkable Scottish brand with rich history and a strong market position in a number of countries'. Mr Hagh added: 'Over the coming years, we will build on this strong foundation and work to evolve the brand into a true global icon. We also see a lot of potential in Naked Malt, which will be a great addition to our portfolio. Together, these brands perfectly complement our vision for growth, and we look forward to investing in their future and sharing their stories with whisky lovers around the world.' For his part, Edrington chief executive Scott McCroskie declared: 'Our focus on ultra-premium spirits has driven Edrington's growth in recent years and we have continued to execute our strategy despite the hostile trading environment. This includes further strategic investments in our sherry cask supply chain and in reducing our carbon footprint.' Read more He made these comments as Edrington reported a sharp fall in profits for the year to March. However, it is crucial to put this in context. The Scotch whisky sector has faced much tougher trading conditions in some key export markets of late. And we must not lose sight of Edrington's stellar growth over a long period. Furthermore, Edrington was able to report last week that The Macallan had 'marked a successful 200th anniversary year and recorded its second-highest year ever for sales, reinforcing its position as the world's number one single malt Scotch whisky by value'. The Glasgow-based distiller flagged The Macallan's strength in the Japanese and South Korean markets. And, providing crucial medium-term context, it highlighted the fact that its 'core contribution' measure of profits in the year to March 31 was, in spite of a 28% fall during the period, still 38% ahead of pre-pandemic levels, at £291.4m. Scotch whisky is of course, as William Grant & Sons and Edrington know fine well, a long-term business. Edrington's principal shareholder is The Robertson Trust, which has donated £396m to charitable causes in Scotland since 1961. William Grant & Sons, like Edrington, has also been able to make sizeable charitable contributions over a long period of time. During 2023 alone, the family-led William Grant Foundation awarded a record total of more than £4.7m in new grants to 114 charitable organisations. Both Edrington and William Grant & Sons make crucial contributions to Scotland's economy and provide a great deal of valuable employment. Hopefully, both will continue to prosper over the years and decades ahead as they navigate boom times and tougher periods in international markets as they always have, never losing a long-term perspective that is supported and enabled by their private ownership.
The Herald Scotland
06-07-2025
- Business
- The Herald Scotland
Billionaire drinks family acquires UK's best-selling whisky
North Lanarkshire-based William Grant & Sons celebrated the double acquisition of The Famous Grouse and Naked Malt brands from The 1887 Company, part of Glasgow-headquartered Edrington. The Famous Grouse is a best-seller. (Image: Colin Mearns) The buyer said: 'This historic moment for WG&S demonstrates the company's commitment to the global Scotch whisky category and confidence in the future of the wider spirits industry.' The Famous Grouse and Naked Malt join WG&S' portfolio alongside Glenfiddich, The Balvenie, Hendrick's Gin and Monkey Shoulder. The firm added: 'The Famous Grouse is Scotland's best-selling whisky and one of the top-selling Scotch whisky brands worldwide, renowned for its quality and heritage, while Naked Malt has garnered a loyal following among whisky enthusiasts and has significant growth potential within the blended malt segment.' Read the full story here Scottish family business brings in majority shareholder Hamish Marshall and Svenja MacMillan, who has joined the long-established business as a director. (Image: James A Marshall/Nevis Capital) A historic Glasgow family business is targeting growth in the UK and elsewhere in Europe on the back of a Scottish investor taking a majority stake.
The Herald Scotland
04-07-2025
- Business
- The Herald Scotland
Scotch whisky distiller - glass half-full or half-empty?
However, Edrington chief executive Scott McCroskie made no bones this time last year, when the distiller reported stellar results for the 12 months to March 2024, about the trading climate by that point having turned somewhat chillier. While voicing his belief back then that Edrington's results for that financial year were 'among the best in the spirits industry', he simultaneously highlighted his expectations as he mulled the outlook that demand would be adversely affected by economic pressures seen in the second half of that period. It is crucial to consider the drop in profits for the year to March 2025 in the context of both the tougher times for the overall industry recently and the growth achieved by Glasgow-based Edrington in recent years. And the extent to which Edrington's profits are ahead of pre-pandemic levels, even after the sharp fall recorded for the year to March, surely provides some reason for at least the half-full types to raise their glasses in albeit a perhaps more muted toast than last year. It has been a big week for both Edrington and William Grant & Sons, with completion of a major transaction first announced last September. Edrington this week completed the sale of The Famous Grouse and Naked Malt brands to William Grant & Sons, which backed the Glasgow-based distiller in its £601 million acquisition of The Macallan owner Highland Distillers back in 1999. Highland was Edrington's joint venture partner for The Famous Grouse blended Scotch. It was interesting to see Edrington and William Grant & Sons highlight how pleased they were with The Famous Grouse and Naked Malt deal after this was completed this week – but more of that a bit later. Edrington on Wednesday reported a 26% fall in pre-tax profits before exceptional items to £274.4m for the year to March 31, as Mr McCroskie flagged a 'hostile trading environment'. Read more Core revenue fell by 10% to £912m, with the group highlighting a 'challenging economic environment' and reduced consumer demand in international markets. The distiller said: 'After a period of industry-leading growth, during which the business has grown significantly, this has been a period in which Edrington experienced the full-year impact of reduced consumer demand.' And Edrington, which has the charitable Robertson Trust as its principal shareholder, flagged increased production and employment costs in the context of the 28% fall in its profits to £291.4m in the year to March 31 on the 'core contribution' measure. Core contribution is defined by Edrington as profits from its branded sales and distribution after the deduction of overheads on a constant-currency basis. Mr McCroskie, as he mulled the current outlook, declared: 'We believe top-line growth will be difficult to come by in this environment, although adjustments to overheads and brand investment are expected to align net sales and core contribution more closely next year.' Amid the undoubted challenges, it is important to recognise there were also significant positives in Edrington's results announcement. While the distiller observed the 'decline in sales was broadly consistent across international markets', it noted that 'exceptions' included 'a resilient performance by Brugal rum in the Dominican Republic and The Macallan in South Korea and Japan'. Edrington added: 'The Macallan 12, 15 and 18-year-old expressions continued to grow in China and the company saw high consumer demand for products launched to celebrate The Macallan's 200th anniversary.' The distiller also declared The Macallan had 'marked a successful 200th anniversary year and recorded its second-highest year ever for sales, reinforcing its position as the world's number one single malt Scotch whisky by value'. And Edrington observed: 'Core contribution was 38% ahead of pre-pandemic levels.' We should take a moment, amid the tougher times for the Scotch whisky sector in general of late, to contemplate and indeed celebrate that tremendous progress. Mr McCroskie reiterated Edrington's focus on 'ultra-premium' spirits as he commented on the distiller's results for the year to March. He declared: 'Our focus on ultra-premium spirits has driven Edrington's growth in recent years and we have continued to execute our strategy despite the hostile trading environment. This includes further strategic investments in our sherry cask supply chain and in reducing our carbon footprint.' Read more And, noting Edrington's completion of its sale of The Famous Grouse and Naked Malt brands on July 1, he added: 'This reflects our choice to focus on the premium end of the market, where we are best placed to compete.' William Grant & Sons was meanwhile upbeat about what it was getting from the deal. It said: 'The Famous Grouse is Scotland's best-selling whisky and one of the top-selling Scotch whisky brands worldwide, renowned for its quality and heritage, while Naked Malt has garnered a loyal following among whisky enthusiasts and has significant growth potential within the blended malt segment.' Søren Hagh, chief executive officer of William Grant & Sons, said: 'I am delighted to complete this acquisition and welcome The Famous Grouse into our portfolio. It is a remarkable Scottish brand with rich history and a strong market position in a number of countries. Over the coming years, we will build on this strong foundation and work to evolve the brand into a true global icon. 'We also see a lot of potential in Naked Malt, which will be a great addition to our portfolio. Together, these brands perfectly complement our vision for growth, and we look forward to investing in their future and sharing their stories with whisky lovers around the world.' Hopefully, both Edrington and William Grant & Sons will prosper in the wake of this major deal as they pursue their respective strategies. These are heavyweight players that have been through plenty of ups and downs in terms of the global trading environment over years and decades. And the long-term success of both - taking account of all the benefits this has brought to the Scottish economy and labour market - is surely something to cheer.
The National
03-07-2025
- Business
- The National
Scotch whisky wins protected status in Argentina in 'global first'
In the South American nation, GI status is a legal label and a mark of quality or reputation which is closely tied to a geographic area. It means that Scotch whisky products in Argentina must meet strict production standards. The Scotch Whisky Association explains that, for a product to qualify as Scotch, it must be made from just three natural ingredients – cereals, water, and yeast – be distilled and matured in Scotland for at least three years, and bottled at a minimum alcoholic strength of 40% ABV. READ MORE: Scotch whisky giant announces acquisition of The Famous Grouse Single malt Scotch whiskies must be bottled in Scotland, and distilled at a single distillery from water and malted barley without the addition of any other cereals, and by batch distillation in copper pot stills. The UK Government said the GI status in Argentina would help 'tackle counterfeit products, giving shoppers confidence they are buying an authentic product and distillers reassurance to expand their presence in a market without risk of imitation products undermining their reputation'. It said that GI products represent around 25% of the UK's food and drink exports and 'an estimated annual value exceeding £6 billion'. Trade Minister Douglas Alexander said: 'Scotch Whisky is the first foreign product to receive special protection in Argentina which is testament to not only the strength of our trade ties with Argentina, but the prestige and reach of Scotland's world-renowned product. READ MORE: We can still raise a glass to future of our whisky 'This is another win for an industry already bolstered by our deal with India which slashes whisky tariffs by half immediately and then down even further in the years to come, demonstrating our action to boost Scotland's businesses and delivering economic growth under the Plan for Change.' Scottish Secretary Ian Murray added: 'There is no substitute for authentic Scotch Whisky and it's fantastic news that collaborative work between the UK Government and Scotch Whisky Association has convinced the Argentine authorities to give our national drink – and one of our biggest exports – the protection it deserves.'
