Tuesday, May 15, 2007

United Spirits buys scottish counterpart Whyte and Mackay

Vijay Mallya's United Spirits has bought out the Scottish Scotch major Whyte and Mackay.An official announcement is scheduled for Wednesday.The deal which was initially valued at Pound 650 million was settled at pound 595 million which includes a pound 100 million payout to bridge a Pension fund Deficit in W&M's Pension trust.

The main owners of the Scottish firm is expected to leave the board including chief executive Mr.Vivian Imerman,who owns nearly two thirds of the firm.However,United spirits is keen on Mr Brannan ,the erstwile manager to head the existing management,as scotch is a new proposition for the Indian major.

Whyte and Mackay has an array of brands including their USP W&M scotch whisky,Dalmore scotch whisky,Isle jura single malt and Vladivar vodka.United spirits will look to promote these in India and some other markets too.

Mr Alok Gupta, one of Vijay Mallya's senior executives is expected to control the operations going forward.

Source: The Economic times

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