I became an honorary Gin Rectifier last night (May 9). I took an oath and now I am duty bound to promote the best interests of gin.
Rémy Cointreau UK, a wholly owned subsidiary of the Rémy Cointreau Group has agreed to acquire Bruichladdich, marking the company’s first move into the premium single malt scotch whisky market.
Bruichladdich was purchased in December 2000 by Mark Reynier and a group of private investors who resurrected the Victorian distillery. The total transaction value amounts to £58m, comprising of £48m for the acquisition of the entire share capital of Bruichladdich and estimated debt of £10m that Rémy Cointreau will assume.
Jean-Marie Laborde, chief executive officer of Rémy Cointreau said: “The acquisition of Bruichladdich, a renowned Islay single malt with a rich and exciting heritage, is a great opportunity to enrich our high-end portfolio of brands and to confirm our strategy in the spirits luxury segment. We expect Bruichladdich to sit proudly alongside our other brands and we look forward to working closely with Bruichladdich’s experienced and passionate management team.”
Sir John Mactaggart, chairman of Bruichladdich added: “This is an excellent transaction for Bruichladdich, the Islay community and a wonderful opportunity for the company to reach its full potential, under the stewardship of Rémy Cointreau with their strong distribution network and their experienced brand development. I’m confident that Bruichladdich will establish itself as one of the scotch whisky industry’s best known and acclaimed premium brands.”
Completion of the transaction is expected to occur within six weeks. Bank of America Merrill Lynch acted as the financial advisor to Rémy Cointreau, and Dundas & Wilson CS LLP acted as legal advisor. Moelis & Company acted as financial advisor to Bruichladdich, and Burness LLP acted as legal advisor.