Hillhouse Capital is considering a sale of its stake in Scotch whisky maker Loch Lomond Group amid interest from potential buyers, according to people familiar with the matter.
(Bloomberg) — Hillhouse Capital is considering a sale of its stake in Scotch whisky maker Loch Lomond Group amid interest from potential buyers, according to people familiar with the matter.
The investment firm has been approached about a potential deal by private equity firms and companies in the sector, the people said, asking not to be identified discussing a private matter. A transaction could value Loch Lomond at about $800 million, the people said.
Hillhouse acquired Loch Lomond in 2019. The firm and Chongqing Jiangxiaobai Liquor Co., a Chinese distiller that Hillhouse also backs, jointly control the Scotch whisky maker, the people said.
Deliberations are at an early stage and Hillhouse could still decide to keep its stake, the people said. A representative for Hillhouse declined to comment.
Loch Lomond’s first distillery site dates back to 1814, according to its website. It produces single-malt and single-grain Scotch whisky at a facility in Alexandria, Scotland.
Founded by Zhang Lei in 2005 with backing from the Yale University endowment, Hillhouse managed about $106 billion in assets as of the end of 2021. It has more than 450 investment and operational professionals, its website shows.
–With assistance from Jinshan Hong.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.