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News
Glengassaugh back after 22 years
Glengassaugh distillery in Portsoy, Scotland, will reopen for business following its £5 million acquisition by Dutch investment Scaent Group. The former Edrington Group asset has been dormant since 1986, but is the latest in a line of moth-balled distilleries to be reopened as the Scotch sector enjoys increasing success in emerging export markets.
The distillery, which is located on the Moray Coast, first began operations in 1875. Following 22 quiet years it is expected to be fully operational in the next six months. It will initially employ 20 people, though this may increase following the opening of a proposed visitor centre.
Scotch industry veteran Stuart Nickerson has been appointed managing director of Glengassaugh. He comments: “The Scaent Group regularly invests in diverse businesses and was specifically interested in acquiring a distillery in Scotland … Glengassaugh has the capacity to make one million litres of whisky a year and has high growth potential. The product will appeal to malt collectors, those on high disposable incomes, and target markets including Eastern Europe.”
Ben Grant, 05/03/08Â