Edrington said on Monday it has reached an agreement to sell The Famous Grouse and Naked Malt Scotch Whisky brands to William Grant & Sons.

Edrington said the sale, through its subsidiary, The 1887 Company Limited, is subject to customary regulatory approvals, including from the UK’s Competition and Markets Authority (CMA).

“This marks the next stage of the company’s mission to be the world’s best at crafting exceptional ultra-premium spirit brands,” said Edrington.

Glasgow-based Edrington — also the owner of The Macallan, Highland Park and The Glenrothes — said on July 1 its profit before tax and exceptional items rose 6% to £411 million in the year to March 31, 2024.

Edrington said its “core revenue” rose 11% to £1.165 billion. However Edrington CEO Scott McCroskie warned on July 1 that the economic pressures the group saw in the second half of last year will adversely affect demand going forward.

Edrington’s principal shareholder is The Robertson Trust.

McCroskie said on Monday: “This decision is driven by our strategy to focus on our core strengths and the growth opportunities in the ultra-premium spirits category.

“We consider this the right moment for Edrington to exit the blended Scotch category and focus on our core portfolio of ultra-premium spirit brands.

“The Famous Grouse is a well-loved brand that has consistently performed in its category during the time it has been part of Edrington, and Naked Malt has grown its reputation. I am confident that these brands are well-positioned to continue to succeed as part of the William Grant & Sons portfolio.”

William Grant & Sons said that founded in 1896 in Perthshire, Scotland, The Famous Grouse “is a quality blended whisky and much-loved brand that would add to William Grant & Sons’ award-winning portfolio of renowned whiskies and spirits.”

William Grant’s brands include Glenfiddich, The Balvenie, Grant’s, Drambuie and Hendrick’s gin.

A spokesperson for William Grant & Sons said: “Having been around for over 125 years, The Famous Grouse has a rich history and would be a significant addition to our portfolio.

“The brand has potential for innovation and international growth in a number of markets, and we’re excited about what the future holds.”