Loch Lomond Group sold to investment firm Hillhouse Capital
The Scottish distilleries Loch Lomond and Glen Scotis are now in Chinese hands
A big deal has been reported today: Hillhouse Capital, an investment firm headquartered in Hong Kong, has acquired the Loch Lomond Group. Their portfolio includes the Loch Lomond Distillery with related cooperage, the Glen Scotia Distillery, a bottling plant and many whisky, vodka and gin brands.
According to the BBC and The Scotsman, the deal is worth $ 500 million. The Asian investment company Hillhouse Capital is involved in various businesses such as the Chinese Internet giant Tencent or Airbnb and Uber.
Only in 2014 the Loch Lomond Group had changed hands: At that time, the Bulloch family sold the company to the investment firm Exponent Private Equity. Since then, the group's brands have increased their international engagement: five years ago, exports accounted for about 10% of sales, today for around 70%, BBC reports.
In his statement, Colin Matthews, CEO of the Loch Lomond Group, underlines the great opportunity for the company to be able to grow in particular on the Asian market by joining Hillhouse Capital.