Chinese buyout firm Hillhouse Capital has bought the Loch Lomond Group’s Glen’s Vodka, for more than $500m.
Group makes brands such as Glen Scotia, Loch Lomond and Littlemill whisky has been sold as the business are to expand internationally over the next five years.
The company was established in 1842 in Scotland and employs more than 200 staff.
Colin Matthews, chief executive of Loch Lomond said, “Over the past five years we are proud to have transformed the Loch Lomond Group into a premium international spirits business with a strong focus on innovation and a portfolio of award-winning brands.
“We believe now is the right time to move forward into the next stage of our growth strategy as we look to innovate further, extend our portfolio of brands and continue to expand our international presence, particularly in Asia where Hillhouse has significant experience.”
Wei Cao, partner at Hillhouse Capital said, “Loch Lomond’s rich heritage in Scotch whisky gives the business a distinct advantage as they look to further build on their success across the world, especially in the increasingly discerning Asian spirits market.
“Hillhouse’s experienced operational team will work closely with Loch Lomond’s management to help it offer a premium consumer experience in international markets through channels like e-commerce and new retail.”
Mark Taylor, of Exponent said, “We are delighted with the successful sale to Hillhouse, and we believe they will be great partners for the business.”