Glenmorangie has sold off the Scotch Malt Whisky Society (SMWS) to a group of investors following a review of how to ensure the private members club can prosper.
The whisky distiller, owned by luxury goods group LVMH, had acquired the SMWS in 2004. Glenmorangie said the organisation was now “stronger than at any time in its history” following its support to expand internationally.
SMWS has two club premises in Edinburgh and sells specially-bottled cask-strength whisky to its international membership. The society was founded in 1983 and sources casks from 129 distilleries.
It is thought a group of 30 investors has taken control of the society, although the current management team is expected to remain.
Glenmorangie, which distills its whisky in Tain, Ross-shire and owns the Ardbeg distillery on Islay, said it has been working with the SMWS managers over the last few months to review “how best to grow the society further, exploring a number of options to ensure a prosperous future in the best interests of the society and its members”.
Paul Miles, managing director of SMWS since 2007, said: “After careful consideration the Scotch Malt Whisky Society management team and the Glenmorangie Company have agreed to change the owner of the society to a group of private investors.
“We are confident the new group of private investors will help the Scotch Malt Whisky Society to thrive and grow.”
Marc Hoellinger, president and chief executive of Glenmorangie said: “This decision is a continuation of the Glenmorangie Company’s successful strategy since 2007 to focus our energies and efforts on developing the Glenmorangie and Ardbeg brands globally.
“We believe this change in investor for the Scotch Malt Whisky Society will ensure the society continues to prosper and expand as the world’s foremost whisky club. We wish them every success.”