Whyte & Mackay mulls takeover of Glen Moray
Whyte & Mackay, which was taken over by Vijay Mallya-promoted United Spirits last year, is believed to be contemplating takeover of Glen Moray. Invest in wine | High-end whiskies
By PTI |
LONDON: Whyte & Mackay, which was taken over by Vijay Mallya-promoted United Spirits last year, is believed to be contemplating takeover of Elgin-based distillery Glen Moray, the British media reported on Sunday.
"Mallya, is also understood to be in regular talks with Moet Hennessy, owner of Glen Moray, on issues including potential asset swaps," a newspaper reported.
According to the newspaper, the distillery's owner, the Paris-based luxury goods giant LVMH Moet Hennessy, had said that the company was putting Glen Moray on the block as part of a restructuring plan of its Glenmorangie business.
Whyte & Mackay, is understood to be interested in second-tier malts and in consolidating the supply of spirit for Scotch whiskies as it seeks to tighten its grip on the fast-growing Indian market, the report added.
"Mallya, is also understood to be in regular talks with Moet Hennessy, owner of Glen Moray, on issues including potential asset swaps," a newspaper reported.
According to the newspaper, the distillery's owner, the Paris-based luxury goods giant LVMH Moet Hennessy, had said that the company was putting Glen Moray on the block as part of a restructuring plan of its Glenmorangie business.
Whyte & Mackay, is understood to be interested in second-tier malts and in consolidating the supply of spirit for Scotch whiskies as it seeks to tighten its grip on the fast-growing Indian market, the report added.
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Last week, LVMH had said it would invest 45 million in its distilleries in Tain and at Ardbeg on Islay but would sell Glen Moray as part of a phased withdrawal from the bottling and sale of blended Scotch.
Since Glen Moray comes with low brand equity it would be a play for Whyte & Mackay, given their ambitions for the Indian market, the report said quoting a drinks analyst.
Glen Morays output is mainly used for blended whiskies such as Highland Queen, MacAndrews and supermarket own-label brands.
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