Scotland’s First Minister Alex Salmond re-opened the 133yr old Glenglassaugh Distillery, near Portsoy, Aberdeenshire on 24th November.
The distillery was purchased by the European investment house Scaent, in a deal worth £5M, at the beginning of 2008. Since then Scaent has invested considerably in re-developing and preparing the distillery to begin production by the end of the year.
Derek McLennan, Executive Vice President of the Scaent Group commented, ‘This is a very exciting time for the whisky industry. With unprecedented demand in markets such as China, India, Russia, South East Asia and South America; we look forward to introducing the world to one of the very best single malt whiskies available today - Glenglassaugh’
Eagerly anticipated by the local community, Glenglassaugh Distillery has already created a number of new employment opportunities, with more new jobs to follow and Scaent’s investment will assist in regenerating the local economy.
First Minister Alex Salmond comments ‘The re-opening of Glenglassaugh Distillery is a historic event and brings much needed investment to the local community. At times such as these it is very uplifting to see such an iconic distillery brought back to life’ The First Minister pressed the button to re-start production at the distillery which will supply whisky to the luxury end of the market. As part of the deal Scaent bought all of the available, existing maturing stock of rare malt scotch whisky, which will be carefully released in limited editions to the marketplace.
Managing Director Stuart Nickerson comments ‘We will initially be releasing a limited amount of 22yr, 30yr and 40yr old single malts. These whiskies are truly unique and have been very well received by those who have tasted them, including key whisky writers and knowledgeable whisky experts.
About the Scaent Group
Since 2003 the Scaent Group has been expanding globally, initially founded in Sweden to trade electricity on the Scandinavian energy market, the Group has migrated to Norway, Finland, Ireland, the Baltic States and even further to Eastern Europe and China. Today, after five years of fast paced and successful development that has resulted in it becoming one of Europe’s leading energy market experts the Scaent Group is diversifying its interests into various spheres including Real Estate, Software, Public Services, Utilities, Construction, Prospecting, Luxury Goods Manufacturing, Retail, Publishing and Telecommunications. At present the Scaent Group has more than 12 companies and sub-groups conducting business in over 18 countries and across two continents. The Head Office is in Amsterdam and the Group is currently planning further expansion into Georgia, Ukraine, and Russia.
About the Glenglassaugh Whisky Distillery
The Glenglassaugh Distillery is situated on the Banffshire coast in the North-East of Scotland, close to the small village of Portsoy. The distillery was built in 1875 by local businessmen to satisfy the growing global demand for Scotch Malt Whisky. The site was chosen due to its close proximity to a water supply of high quality and easy access to the nearby barley fields. The whisky from this distillery has traditionally been used in the production of blended whiskies such as Cutty Sark and The Famous Grouse. During the 1980’s when all companies were reviewing their operations the economics of running this relatively small and isolated distillery persuaded the owners that they should stop operations and the distillery has remained silent to this day. In 2008 Scaent purchased the distillery from the existing owners and have plans to invest significantly in the distillery and so once again recommence operations and to reintroduce to discerning customers the distinctive and high quality attributes of The Glenglassaugh Single Malt Scotch Whisky.
