SCOTCH whisky veteran Billy Walker has revealed the first spirits from his latest distillery venture will debut in markets at home and abroad by the spring of next year.
Mr Walker, who sold the BenRiach Distillery Company for £285 million last year, announced his industry comeback in July after leading a consortium to acquire Speyside’s GlenAllachie Distillery. The distillery was bought by the consortium, which also includes experienced industry figures Trisha Savage and Graham Stevenson, from Pernod Ricard for an undisclosed sum.
And yesterday the GlenAllachie Distillery Company set out its strategy for the new venture. Mr Walker revealed the distiller’s intention to introduce a range of “premium quality yet affordable” whiskies, with 12, 18 and 25 year old expressions of the GlenAllachie single malt in line to be introduced to international and domestic markets by March.
Mr Walker, who has held roles with Ballantine’s, Inver House and Burn Stewart in an illustrious 40-year industry career, spoke of his excitement in being able to acquire a distillery which had built up such high quality, mature stock.
He said: “It’s a great opportunity. Being able to actually acquire distillery is not easy. And getting a distillery that is mature, is in great nick and has the inventory that will support quite a meaty and ambitious business plan is good.”
Mr Walker, the majority shareholder, added: “The most important thing is that it has a very sumptuous inventory. We’re in a position where we can put some very interesting age expressions into the marketplace, and that’s not easy. It is certainly not easy for start-ups. Even with some of the mature companies, there is pressure on putting age on the bottle.”
Mr Walker said he had to observe some restricted covenants further to the BenRiach sale before returning to the industry. But equally he said he wanted to take some time to mull his next move.
Asked whether other deals had presented themselves before GlenAllachie, Mr Walker said: “The answer to that is [there were] not. There are not a lot of opportunities. But we have a long-term and very good working relationship with [Pernod owner] Chivas Brothers so hopefully this is another in a long line of good relationships.”
Mr Walker and his family netted nearly £100m from the sale of BenRiach to Brown-Forman, the US spirits giant behind Jack Daniels. That came after he had built up BenRiach into £40m turnover business, beginning by acquiring the formerly mothballed distillery of the same name in 2003. He went on to add GlenDronach and Glenglassaugh to the stable in 2008 and 2013. Mr Walker anticipates pursuing broadly similar model with the 50-year-old GlenAllachie Distillery. He said: “Our kind of business model was always to buy into distilleries that had the potential but really hadn’t been taken to the market as a single malt. GlenAllachie does present us with that kind of opportunity.”
GlenAllachie launches with an initial team of 15, but Mr Walker said that could be expanded with further sales and marketing resource “should our aspirations for the brand be fulfilled”.
Export targets include France, Germany and the US, as well as emerging markets. Mr Walker said the aim is to build through independent importers, distributors and retailers. As well as the GlenAllachie malt, the deal to acquire the distillery included the MacNair’s and White Heather blends, which the company plans to rejuvenate. Future plans include the launch of single cask bottlings and special editions.
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