Ian Macleod Distillers has bought Speyside distillery Tamdhu from the Edrington Group for an undisclosed sum.
Established in 1897, Tamdhu's has a capacity of four million litres of alcohol per year.
Ian Macleod owns Isle of Skye, Lang's and the King Robert II blends. The Tamdhu Single Malt brand is also included in the sale, and Ian Macleod Distillers plans to significantly develop its sales both in the UK and abroad.
Leonard Russell, managing director of Ian Macleod Distillers, said: "Having purchased Glengoyne Distillery from Edrington in 2003, we are delighted to be acquiring a second distillery from them, safe in the knowledge that it has been maintained to a very high standard and comes with a reputation for producing exceptional quality single malt."
Ian Curle, chief executive of the Edrington Group, said: "Edrington and Ian Macleod have a good relationship stretching back many years, and we know the Tamdhu Distillery and brand will be in good hands. From Edrington's perspective, the sale will further de-complex our business, allowing us to continue to focus on the growth of our five key brands, The Famous Grouse, The Macallan, Brugal, Cutty Sark and Highland Park."
Since purchasing Glengoyne distillery in 2003, Ian Macleod Distillers has doubled sales of Glengoyne Single Malt as well as building four additional maturation warehouses, and has invested £1 million in a two-year marketing campaign.
Ian Macleod Distillers recently announced improved financial results for the eighth consecutive year, with group turnover increasing 22% to £31.9 million in 2010.