Yesterday I mentioned the
Edrington Group's investment in The Macallan but they have also divested themselves of a few smaller distilleries. One of them, the Glenglassaugh distillery, which was built in 1875 but hasn't been operational since 1986, has been
sold to a Dutch investment house for £5 million. The distillery in the village of Portsoy on the Moray coast, will be brought up to full working order over the next year and could make up to one million litres of whisky once it gets going. It is expected to appeal to malt collectors around the world in search of smaller brands. Certainly the investors in this project are buying a name and a history as much as physical property similar to those who are picking up the smaller wine estates in France.
