After a few months of uncertainty, the future of the Cutty Sark Scotch Whisky brand has been announced, and it is very much a positive one!
La Martiniquaise-Bardinet has agreed to buy the Cut Sark Scotch whisky brand from Edrington for an undisclosed sum, adding it to their envious portfolio of brands including GreatDrams’ favourite Glen Moray.
I must say that I’m impressed and happy that this is the conclusion to the confusion over the future of the brand as not only does Cutty Sark deserve a good owner and a new lease of life, but in La Martiniquaise-Bardinet, you have a proven track record of growth, positive actions and due care towards people and the quality of their product.
I look forward to reading, and seeing what happens as they enter a transition period until the handover is complete… exciting times for a near-90-year-old Scotch whisky brand.
The Cutty Sark brand statement is ‘our actions define who we are’, and indeed they will in the next phase of the brand’s evolution.
Press release reads…
Edrington and La Martiniquaise-Bardinet agree a new future for the iconic Cutty Sark Scotch Whisky under La Martiniquaise ownership
Edrington and La Martiniquaise-Bardinet are pleased to announce that they have concluded an agreement on the sale of the Cutty Sark Scotch Whisky brand.
Cutty Sark Scotch Whisky was launched in 1923 and is one of the most recognisable Scotch Whiskies in the world, with a long and distinguished heritage celebrating the spirit of adventure. Edrington’s association with Cutty Sark stretches back over nine decades to the 1930s. The completion of the transfer to La Martiniquaise is expected within a month.
Ian Curle, chief executive of Edrington, said: “Cutty Sark is a great Scotch Whisky and has been a worldwide whisky icon for the last 90 years. We are pleased to be transferring the brand to La Martiniquaise and know that it will thrive under their ownership. We wish them all the very best for the future with this great brand.”
Jean-Pierre Cayard, President of La Martiniquaise-Bardinet commented: “We are proud to take ownership of this powerful brand. Cutty Sark perfectly complements our portfolio of international brands including Label 5, Sir Edward’s & Glen Moray Scotch Whisky, Poliakov Vodka, Porto Cruz and Negrita & Saint James Rum.
This acquisition is a major step forward to accelerate our international expansion. It will further strengthen our position in Europe and boost our presence in key markets such as the US & Japan. With Cutty Sark, we consolidate our position in Scotch whisky, entering in the world’s top 5 groups (source: The IWSR).”
As part of the deal, Edrington will continue to provide blending and bottling and other associated services during a transition period. Edrington were advised during the sale process by Nomura International PLC and Dentons UK and Middle East LLP. La Martiniquaise-Bardinet were advised by Rabobank and Goodwin.