SCOTLAND – Pernod Ricard, the world’s second-largest wines and spirits firm, has announced plans to divest its Scotch Whisky brand and distillery to the London-based independent distiller, Elixir Distillers.
The French alcoholic beverages company expressed delight to be handing Tormore over to Sukhinder and Rajbir, who co-founded whisky specialist Elixir Distillers in 2017, and look forward to finding new ways to collaborate in the future.
The sale signifies a ‘new milestone’ between Pernod Ricard and Singh brothers Sukhinder and Rajbir Singh, who also created the online spirits retailer ‘The Whisky Exchange’ which was acquired by Pernod Ricard in 2021.
Elixir Distillers’ move on Tormore is timely as the whiskey industry is experiencing healthy growth primarily driven by the increase in consumer spending, product innovations, rapid urbanization, and growing demand from young consumers.
According to a report by Allied Market Research, the global whiskey market is projected to reach $86,389.5 million by 2027, at a CAGR of 4.9% during the forecasted period of 2020 to 2027.
Described as ‘a creator, blender, and bottler of fine spirits, Elixir Distillers’ core brands include Port Askaig, Elements of Islay, Single Malts of Scotland, and Black Tot which are exported to more than 30 international markets around the world.
The acquisition of the Tormore distillery which has a capacity of nearly 5 million liters of alcohol per annum come at a time when Elixir Distillers is also building a new distillery on Islay, Portintruan, set to start operation in 2024.
Sukhinder Singh said: “Tormore produces a beautiful spirit and fits in perfectly with the Elixir Distillers flavor-first philosophy to bottle only the very highest quality whiskies.”
We are hoping to build on the work that’s been done by Pernod Ricard to bring to life the magic of Tormore and show consumers around the world just what a hidden gem it is.”
Tormore’s sale follows Pernod Ricard’s investment to increase annual Scotch production capacities at its Aberlour and Miltonduff facilities by 14 million liters.
Pernod Ricard’s Scotch Whisky business Chivas Brothers also announced a £88m (US$110million) investment in two Speyside single malt distilleries, which Alexandre Ricard, chairman, and CEO of Pernod Ricard, said demonstrates the company’s commitment to Scotch.
The additional capacity, according to the company, would support the accelerating global demand for the Scotch, which continues to be the best-selling single malt whisky in France and has made significant gains across Asia.
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