Lalique Group said it has purchased a 50% stake in Glenturret distillery for £15.5m and plans to significantly increase production at the single malt Scotch whisky distiller, which is one of the oldest still operating.
Future releases of limited edition, Glenturret single malts housed in Lalique crystal decanters are also part of the plans, Lalique said.
Swiss entrepreneur Hansjörg Wyss has bought the other 50% stake in Glenturret for an undisclosed fee.
Silvio Denz holds 72% of Lalique Group’s shares and is its chairman, while the Hansjörg Wyss Trust also holds a 3.64% interest in Lalique, according to company records.
Their purchase of Perthshire-based Glenturret, previously owned by The Edrington Group, comes at a buoyant for high-end, single malt Scotch.
‘The Glenturret will be the perfect addition to our portfolio as we enter the world of Scotch whisky,’ said Denz.
Lalique said that it wanted to increase Glenturret production from 170,000 litres annually to 500,000.
It didn’t give a specific timeline but said higher volumes would become available for blending by 2026/27 and that the increase could be achieved without significant investment. The distillery is set to produce 205,000 litres of new-make spirit in 2019.
The deal also includes more than one million litres of maturing Scotch whisky at different strengths and in different casks.
‘These stocks will allow for the blending of high-end single malts with ages ranging from 10 to 40 years, including various special editions,’ said Lalique.
The group plans to develop limited edition whisky decanters using Lalique crystal, referencing a similar project with The Macallan.
There are also plans to renovate the Glenturret visitor centre and to build partnerships with Scotland’s hospitality and gastronomy sectors.
Lalique said it expected staff numbers at the distillery to rise from 25 to 30. Master blender Bob Dalgarno, who spent 30 years at The Macallan, will be on the team.
Lalique added that it will run Glenturret with Wyss via a jointly held firm named Glenturret Holding, which will be based in Zurich.