One of Scotland’s most famous whisky brands has been sold to a French company for £300m, it was announced tonight.
The board of Glenmorangie confirmed luxury goods group Louis Vuitton Moet Hennessy was the successful bidder.
The Edinburgh-based Macdonald Family announced in August it was putting the 300-year-old company on the market.
The premium malt whisky maker employs 400 people at its head office and warehouse site in Broxburn, West Lothian, and a distillery in Tain, Ross-shire.
The company, which makes brands including Glenmorangie, Glen Moray and Ardbeg, was one of the largest remaining independent companies in the Scotch whisky industry.
The sale is expected to be completed by the end of December and will see the company operate as a subsidiary within LVMH’s wine and spirit group.
Glenmorangie chief executive Paul Neep hailed the deal.
“This is great news for the company, our brands and employees, he said.
“As part of LVMH, we will continue to develop and grow our premium brands in their key markets.”
Paris-based LVMH boasts a wide-ranging portfolio of leading international brands in wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewellery.
Its main drinks brands include Hennessy Cognac, Moet & Chandon, Veuve Clicquot and Krug champagnes.
Christophe Navarre, CEO of Moet Hennessy welcomed the deal.
“Glenmorangie is a fine whisky, a growing brand and a strong company,” he said.
“It will be a fitting companion for Moet & Chandon, Hennessy and our other prestige brands.
“We look forward to a prosperous future together.”
LVMH confirmed it would formally write to all shareholders outlining its offer.