Billy Walker in Glenglassaugh distillery takeover
Walker has taken over the Glenglassaugh distillery near Portsoy from Dutch private equity firm Lumiere. He remained tight-lipped over the price he paid but said Royal Bank of Scotland had extended its lending to his Edinburgh-based BenRiach Distillery Company, which is backed by South African investors Geoff Bell and Wayne Kieswetter.
Walker told The Scotsman: “Glenglassaugh is profitable so it won’t be a drain on cash.”
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Hide AdGlenglassaugh managing director Stuart Nickerson, who will remain with the business initially, added: “It’s great to be back in Scottish hands.”
Glenglassaugh had ceased production in 2006 but was revived by a group of investors in 2008.