Contrasting fortunes for two whisky distilleries

TWO of Scotland’s foreign-owned whisky distilleries came under the spotlight yesterday after Tomatin unveiled a banking deal with HSBC and sales growth slowed at Glen Grant.

Tomatin, which was bought by Japanese wine and spirits distributor Takara Shuzo in 1985, has unveiled plans to expand from its traditional blended whiskies into a range of malts.

The company said that it had shifted its banking to HSBC because the lender’s global presence will help it to reach export markets, including Brazil, China, India and Russia.

Robert Anderson, chief executive at Tomatin, explained: “HSBC was extremely proactive in assisting our overseas sales team with local market knowledge and potential routes to market before any formal talks had taken place.”

The distillery, located south of Inverness, is already exporting its Scotch to the United States and markets in the Far East.

Tomatin’s move away from making whisky that is used in other companies’ blends has already involved launching its own Antiquary and Talisman labels and the development of four single malt bottlings.

News of Tomatin’s overseas push came as Campari – the Italian drinks group that owns the Glen Grant distillery at Rothes, in Moray – disappointed investors with lower-than-expected profits for 2011.

Pre-tax profits grew by 7.6 per cent €250.6 million (£210.7m), missing analysts’ forecasts, despite sales rising by 9.6 per cent to €1.27 billion.

Sales of Glen Grant edged up by 0.9 per cent, failing to match the 8.8 per cent increase posted in 2010.

Campari hopes that growing sales of Italian aperitif Aperol and Wild Turkey bourbon in emerging markets will offset weak European demand in the year ahead.