French drinks group Picard Vins & Spiritueux has bought Tullibardine for an undisclosed sum, following three years of dealing with Perthshire distillery.
The wine and spirit company have added Tullibardine to the Highland Queen brand which they picked up after Glenmorangie moved out of the blended whisky market in 2008.
Tullibardine Distillery in Blackford was previously owned by Jim Beam before being brought out of mothballs by a private consortium in 2003, reports The Herald newspaper.
Managing Director Douglas Ross, one of the original investors, told the paper: “As a group of shareholders we recognised our limitations in terms of being able to invest further behind the distillery and the brand without taking significant investment from external sources,”
“We felt we were custodians of the brand and it was time for us to hand the brand to others.”
The current management at the distillery are to remain in place and no redundancies are expected.