(Bloomberg) — French distiller Pernod Ricard SA is selling its Tormore Scotch whisky brand and distillery to Elixir Distillers, a company co-founded by brothers Sukhinder and Rajbir Singh.
The single malt distillery, based in Speyside, has an annual production capacity of close to 5 million liters of alcohol, the companies said in a statement Monday.
Terms for the deal were not disclosed.
“We are hoping to build on the work that’s been done by Pernod Ricard to bring to life the magic of Tormore and show consumers around the world just what a hidden gem it is,” Sukhinder Singh said in the statement.
Last year, Pernod Ricard acquired the Whisky Exchange, one of the world’s largest e-commerce platforms for liquor, which was founded by the Singh brothers in the 1990s.
The sale of Tormore follows an £88 million ($107.8 million) investment in Pernod Ricard’s Aberlour and Miltonduff distilleries, which will increase Scotch production there by 14 million liters of alcohol a year.
Pernod Ricard has a history of selling some assets to corporate partners it’s acquired businesses from.
Late last year, the company sold southwest France’s Societe des Produits d’Armagnac to Alexander Stein, from whom it had bought Monkey 47 in 2015.
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