INDIAN BILLIONAIRE CONFIRMS SCOTCH ACQUISITION
After months of speculation, denial and other claims, Indian billionaire Vijay Mallya’s company (United Brewers) has finally acquired Glasgow distiller Whyte & Mackay for $1.18 billion. Riding on the irony of two opposing factions, the Whyte & Mackay deal will serve as Vijay’s gateway into the Scottish whiskey industry.
It’s widely known that Vijay (a member of the Indian parliament) strongly opposes the fact that Indian spirits made from molasses are not labeled “whiskey” in the EU. As a sort of payback, Vijay has opposed the Scotch Whiskey Association’s effort to reduce the insanely high import taxes of up to 550% in India.
Whyte & Mackay claim the acquisition will actually benefit the Scottish whiskey market by drafting Vijay into their ranks. Only time will tell.
It’s widely known that Vijay (a member of the Indian parliament) strongly opposes the fact that Indian spirits made from molasses are not labeled “whiskey” in the EU. As a sort of payback, Vijay has opposed the Scotch Whiskey Association’s effort to reduce the insanely high import taxes of up to 550% in India.
Whyte & Mackay claim the acquisition will actually benefit the Scottish whiskey market by drafting Vijay into their ranks. Only time will tell.
posted at 12:59 PM
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