William Grant & Sons acquires Drambuie
Speculation surrounding Grant’s purchase of Drambuie first began last July when Drambuie-owners the McKinnon family declared the company for sale in order to help the brand “achieve its full potential” but the company refused to comment at the time about possible suitors. The company employs 22 people.
Drambuie is a blend of aged Scotch whisky, spices and heather honey which can be traced back to 1745. It rose to fame as the key ingredient of the Rusty Nail, the classic cocktail favoured by the Rat Pack in the 1950s.
“Drambuie is a natural fit for our portfolio” commented William Grant & Sons’ Chief Executive Stella David, “It has a very rich history and a great story to tell and we’re 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.”
The McKinnon family-owned Drambuie Chief Executive Michael Kennedy added, “We’re pleased to complete this process with William Grant & Sons, a company who holds true those family values which will help nurture Drambuie to begin its next chapter of growth.
“As part of the William Grant & Sons stable of brands, we believe that Drambuie can truly achieve its potential as it will benefit from being part of a larger and more diverse organisation.”
William Grant & Sons recently announced a rise in Operating Profits of 10.6% to £128 million in 2013 from £124.8 million the previous year, according to a statement released by the privately-owned global premium spirits supplier.
2013 turnover too was up 5.2% to £1.12 billion, with turnover on the company’s core brands increasing by 12.5% year-on-year. The company delivered a Group Operating Profit of £138.0 million for 2013, up 10.6% from £124.8 million in 2012.
In addition, the company’s Glenfiddich brand continued to maintain its position as the world’s number one and most awarded single malt Scotch whisky.
