LVMH Moet Hennessy Louis Vuitton says it will make an $89.5 million investment in its Scotch whisky distilleries to meet the growing worldwide demand for single malt premium brands.
The luxury goods company says it will spend the money to boost its Glenmorangie and Ardbeg brands. Meanwhile, LVMH will sell off its Glen Moray operation which makes whisky for blends.
The investment will go towards increasing production capacity and boosting warehouse space at its Glenmorangie Distillery in Tain; additional warehouse facilities at Ardbeg on Islay; and for upgrades to visitor centers at both locations.
Glenmorangie will also relocate its headquarters to Edinburgh.
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