BENRIACH Distillery Company has bought the Glenglassaugh distillery for an undisclosed sum.
The Banffshire distillery dates back to 1875 but lay mothballed for more than two decades before being re-opened in 2008.
Now Amsterdam-based owner Lumiere Holdings has decided to sell to Edinburgh's BenRiach.
BenRiach is headed by master blender Billy Walker and South African investors Geoff Bell and Wayne Kieswetter.
As well as the BenRiach Distillery in Elgin it owns GlenDronach in Aberdeenshire.
Mr Walker said: "Five years ago, our acquisition of GlenDronach surprised and delighted whisky connoisseurs around the world and we are confident our latest intriguing acquisition will have the same positive effect.
"We're really delighted to buy Glenglassaugh, a renowned Highland single malt with a rich and distinguished heritage. It's an excellent fit with our existing BenRiach and GlenDronach brands.
"The timing is good as there is no doubt we are currently in a golden age for Scotch whisky.
"There's unprecedented demand for high-end brands like ours in places like Taiwan, Scandinavia, USA, China, India, Russia, the Middle East, South Africa and South America, and we now have the fantastic opportunity to re-introduce Glenglassaugh to these markets."
The deal was backed by Royal Bank of Scotland.
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