Scotch and spirits entrepreneur Iain McClune has agreed to buy his former employer, independent specialist whisky business, Royal Mile Whiskies.
Along with Royal Mile Whiskies, McClune will acquire its parent company Dormant Distillery Company (DDC), which includes Drinkmonger and The Cigar Box. They will all be retained, owned and operated in Scotland as part of the deal.
McClune will make the acquisition through his investment company Vintage Saga, which also includes Whisky Auctioneer, Wine Auctioneer, Rum Auctioneer and Bright Spirits.
He is the second former employee to to return as owner of the business.
Keir Sword, founder of DDC, said: “I am delighted to pass the business over to Iain who as a former employee shares my affection for the business and understands the importance of our fantastic team of drinks enthusiasts. As a former employee who myself returned to buy Royal Mile Whiskies it is greatly satisfying to pass the baton on to one of our own, who shares my vision for the business and I trust to carry on our values.”
As part of Vintage Saga, DDC will continue to operate as its own entity, and also independently from other businesses within the group, a statement said. Arthur Motley, who has worked alongside Keir Sword for around 20 years, will become managing director of DDC.
McClune added: “I am particularly pleased to be inheriting such a great team as they will be crucial to the ongoing success and future growth of the DDC brands. Under Keir’s tenure, Royal Mile Whiskies has become recognised as one of the great independent UK whisky merchants and this reputation is exactly what we look forward to building with all at DDC.”
Financial details were not disclosed.