NEWS
JAPAN’S SUNTORY BUYS 10% STAKE IN MACALLAN’S OWNER EDRINGTON
By Siulan Law Mathews DipWSET
29-1-2020
Source: Suntory Holdings
Japanese drinks giant Suntory Holdings is to buy a 10% stake in Scottish whisky producer Edrington, owner of The Macallan, for an undisclosed amount.
In a joint statement issued yesterday, it is said that the deal will build on a strategic partnership between the two firms which dates back to the early 1990s.
Suntory has a long-term shareholding in The Macallan, a leading Scotch Whisky brand.
The company has also been an important distributor of Edrington brands in several key international markets over the past four decades, including Japan, Germany, Canada and South Africa; and through joint ventures in the UK, Spain and Russia.
The agreement will provide an inflow of funds to Edrington’s principal shareholder, The Robertson Trust, which will allow it to give more to good causes across Scotland.
It will also provide funds for Edrington’s employee share scheme.
Scott McCroskie, CEO of Edrington, commented: “We share a similar ethos and the same passion for craftsmanship, innovation and quality in our brands. We look forward to cementing and building this deep relationship over the coming years.”
Apart from The Macallan, Edrington holds other Scotch Whisky brands including The Famous Grouse, Highland Park and The Glenrothes.
Suntory Holdings’ portfolio includes Japanese whiskies Yamazaki and Hibiki, American bourbon Jim Beam and non-alcoholic drinks Orangina, Lucozade and Ribena.
(the writer can be contacted at: info@thewinechronicle.com)
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