THE WHISKY making Loch Lomond Distillery in Scotland has been sold to the private equity owner of Quorn Foods, with former Diageo chief financial officer Nick Rose parachuted in as chairman.
The whisky maker, which reported £23.6m of turnover last year and a £470,000 profit, will be formed into a new company called Loch Lomond Group majority owned by Exponent Private Equity.
Loch Lomond makes Glen Scotia whisky and Glen’s Vodka and had long been a target for Exponent after the UK-based buyout outfit started work on the deal about a year ago.
Exponent adds Loch Lomond to a stable of portfolio companies which already includes train ticket website thetrainline.com and PR website Gorkana. No price was put on the deal but Provident does deals of £75m-£300m in size.