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Exponent adds whisky maker Loch Lomond Distillery to portfolio

3 Mar 2014

WhiskyUK business-focused Exponent Private Equity has bought whisky maker the Loch Lomond Distillery Company alongside the company’s management.

Exponent holds a majority stake in the business, which makes the Loch Lomond and Glen Scotia single malts, High Commissioner blended whisky and Glen’s Vodka.

Former Diageo Chief Financial Officer Nick Rose will be chairman of the new business.

The deal was expected to value Loch Lomond at tens of millions of pounds according to a Sky News report last year, putting it near the lower-end of Exponent’s target enterprise values of £75m to £350m.

Exponent currently holds meat-free food maker Quorn in its portfolio following a £205m buyout with Intermediate Capital Group in 2011.

The firm is investing from its £800m second fund, which beat its £750m through a final close in 2008.

Loch Lomond CEO Colin Matthews said, “Loch Lomond, Glen Catrine and Glen Scotia have built a sound business platform with brands that perform well in the UK and in a number of international markets.

“The growth of the Scotch whisky industry in recent years offers a great opportunity to develop further the Loch Lomond business, to refresh and expand the product portfolio, and to move into a number of new international markets building on the excellent progress the company has already made.

“We are delighted to have Exponent as our partner as we embark on this next exciting stage of our development.

“We have assembled a strong and experienced management team who will work alongside the existing management to take on this challenge and we are confident that together we can fulfil the considerable potential of the new group, its brands and its people in what is a robust and expanding industry.”

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