DC Blog: Industry News Roundup Feb '26
- Lee Connor
- Feb 26
- 10 min read
Welcome to the first ever DCLtd Industry News Blog. In this round‑up, I'll be cutting through the noise with short, fact‑first updates: this month from new leadership at the Scotch Whisky Association and lifeline funding for an independent community distillery, to blockbuster Mergers and Acquisitions , duty hikes, and export slumps. Whether you care most about what’s happening in the warehouses, or on the world’s balance sheets, the stories below sketch a clear picture of a whisky industry adjusting, under pressure, but still very much on the move. If you're in a rush you can read "My ten pence worth" here.
Feb '26 Update
Luss Distillery officially opened
Scotland’s First Minister John Swinney has formally opened the Loch Lomond Group’s new multi‑million‑pound Luss Distillery and visitor experience on the banks of Loch Lomond (soft‑opened late 2025).
The site is expected to welcome up to one million visitors in 2026 and features a working distillery, immersive whisky and gin areas, tasting room, retail space and café.
A Luss‑exclusive Loch Lomond 14‑year‑old (291 bottles) was presented to Swinney and is only available at the distillery.
Johnnie Walker and Sabrina Carpenter at the Grammys
Johnnie Walker expanded its multi‑year partnership with Sabrina Carpenter with a series of high‑impact activations around the 68th Grammy Awards in Los Angeles.
The push centred on the Go Go Highball (Johnnie Walker Black Label, ginger ale and sour cherry juice) positioned as the “drink of the moment” at major Grammy pre‑ and post‑parties.
A limited run of Carpenter‑inspired Highball clutch bags (I've no idea what a "clutch bag" is - although I hope it's a complimentary term used to describe fans of the band "Clutch") and a rollout of the serve at select bars supported the campaign.
Diageo hit by 56% slump in Chinese white spirits
For contrast, diageo’s Chinese spirits sales plunged 56% in the first half of fiscal 2026, helping drive a 2.8% organic sales decline and 4% net sales drop to US$10.5 billion for the half‑year.
Sales in Greater China fell 42.3% overall, reflecting a 50.4% volume decline in Chinese white spirits after new market rules and a ban on alcohol at official events hit consumption.
Spirits sales across the group fell 6%, dragged by Chinese white spirits, Tequila (down 17%) and Canadian whisky (down 8%), while beer grew 8% and RTDs jumped 17%; Diageo has halved its dividend to 20 cents per share to create “more financial flexibility”. Causing a slump in their share price.
Isle of Barra Distillers appoints new chairman ahead of 2027 malt launch
Isle of Barra Distillers has named Stephen Webster as chairman as it prepares to open a £12 million single malt distillery in 2027 – the largest single private investment on the island.
Founders Michael and Katie Morrison remain majority owners; the business currently produces Barra Gin, Hebridean Vodka and Island Dark Rum and grew revenue 13.5% last year with a 24% rise in production.
The company is offering cask and equity investment and has been adding key hires, including a financial controller and head of UK sales.
Campbeltown Malts Festival 2026: key Cadenheads, Springbank and Kilkerran events
The Campbeltown Malts Festival 2026 runs 18–23 May with a full programme from Cadenhead’s, Springbank and Kilkerran, bookable mainly via Eventbrite.
Highlights include daily Cadenhead’s Warehouse Tastings, a high‑end Springbank charity tasting, the Malt Barns Dinner, Springbank and Kilkerran open days with free tours, archive tastings and Kilkerran blending sessions.
Campbeltown Malts Festival 2026: key Watt Whisky events
Independent bottler Watt Whisky is once again centring its tasting calendar on home turf in Campbeltown for 2026, with regular sessions providing an easy bolt‑on to Campbeltown Malts Festival plans. These relaxed mid‑week tastings, Mark or Kate Watt, feature five drams from the Watt range and are pitched as informal, good‑humoured evenings rather than stiff masterclasses. Culminating with Watt Whisky & Friends Open Day on Sat 23rd May
The team now offers digital gift vouchers redeemable against these Campbeltown tastings – £25 for one person or £50 for two – which makes them a nice way to lock something in for Malts‑week or to sort a present for a travelling whisky pal. For anyone sketching out a 2026 festival itinerary, plugging a Watt Whisky Wednesday into the middle of your Malts Festival schedule is an easy way to see another side of Campbeltown’s whisky scene beyond the big official open days.
Christies to sell “last two” Karuizawa casks
Christie’s London will auction two casks of Karuizawa from Sukhinder Singh’s private collection on 10 March 2026, billed as the final Karuizawa casks likely ever to reach the open market.
The 1999 casks (nos. 6195 and 888), each holding about 420 x 700ml bottles, are stored at Tormore Distillery and give the buyer control over future maturation and bottling.
With Karuizawa long closed and its bottlings already record‑setting at auction, the sale is positioned as a last chance to own a full cask from the cult Japanese distillery.
Community‑owned GlenWyvis secures £500k funding
GlenWyvis, the world’s first wholly community‑owned distillery in Dingwall, has secured £500,000 in funding from the Catalyst Fund, a social investment vehicle run by Firstport.
The cash will support Scotch whisky production, create new jobs and bolster marketing and sales as the distillery navigates Covid‑era impacts, a past wood‑chip store fire and a legal dispute over its site.
GlenWyvis, a Community Benefit Society with 3,796 members, has raised £3.7m across previous share offers and needs working capital until its first 10‑year‑old whisky is ready in the early 2030s.
Gallo to acquire Four Roses from Kirin for up to $775m
Kirin Holdings has agreed to sell Kentucky bourbon producer Four Roses to US wine and spirits giant Gallo for up to about £571 million, including a £36m performance‑linked earn‑out.
Four Roses brings a Lawrenceburg distillery, visitor centre and separate bottling/warehouse site, with Gallo saying no operational, production or distribution changes are planned before or after closing.
The deal, expected to complete by Q2 2026 subject to US antitrust approval, deepens Gallo’s push into American whiskey following other investments and wider spirits M&A spree.
Rita Greenwood becomes first female Chair of SWA Council
The Scotch Whisky Association has appointed Rita Greenwood, Chief Investment Officer at William Grant & Sons, as Chair of its 16‑member Council for a two‑year term.
Greenwood is the SWA’s 24th Chair and the first woman to hold the role in the Association’s 114‑year history, bringing more than 23 years’ experience in the Scotch and wider drinks industry.
Her tenure begins as the sector faces global trade pressures, tariff and regulatory uncertainty and a push toward more sustainable operations
One in five Scottish distilleries in financial distress
A new analysis reported by The Grocer suggests around 20% of Scottish distilleries are now in significant financial distress amid what it calls a global whisky slowdown.
The piece highlights cost inflation, higher interest rates, shifting global demand and rising UK duty as mounting pressures on producers.
Smaller, newer sites are presented as particularly vulnerable, sparking calls for more supportive government policy and realistic growth expectations across the category.
Nc’nean secures £2.5m as US sales surge
Nc’nean has raised £2.5 million in new funding via existing shareholders to support growth, after reporting a 37% sales increase in the US in 2024.
The organic, B Corp‑certified distillery now counts the US as its biggest export market and plans to use the cash to build stock, expand distribution and invest further in brand awareness.
Founder Annabel Thomas said the raise reflects continued confidence in Nc’nean’s sustainable model, as the business pushes deeper into key European and North American markets despite wider category headwinds.
ASA keeps tight watch on whisky cask investment claims
UK regulator the Advertising Standards Authority is continuing to scrutinise whisky cask investment adverts, after previous rulings against firms making exaggerated or misleading promises on returns and “guarantees”.
Law firm Brodies urges cask sellers to back up all claims with evidence, avoid suggesting whisky is low‑risk or “regulated like pensions”, and ensure clear risk warnings and fair, balanced messaging.
Tariffs pull Scotch exports to the US down 15%
Global Scotch exports slipped 0.6% in value to £5.36 billion and 4.3% in volume in 2025, with bottles shipped to the US down 15% in the eight months after a new 10% US tariff took effect in April.
US export value fell 4% to £933 million, while volumes dropped 9.2% to 120 million bottles; the SWA warns a possible US tariff hike to 35% in July 2026 risks further damage just as the post‑Boeing‑Airbus dispute period ends.
India, Turkey and Spain grew strongly in value, but the SWA says rising domestic tax and regulatory burdens, plus repeated UK duty hikes, are forcing some distilleries to cut production and shed jobs.
Green light for multi‑million‑cask warehouse expansion
Planning approval has been granted for a large‑scale whisky warehouse expansion in Scotland, adding capacity for well over a million casks to support future maturing stock.
The Herald reports local concerns over traffic and landscape impact were weighed against the economic benefits of investment, jobs and long‑term supply‑chain security for the whisky industry.
Radico Khaitan to build a Scotch whisky foothold
Indian spirits giant Radico Khaitan has approved the creation of a wholly owned Scotch division, Radico Khaitan Scotland Ltd, to handle distillation, maturation, storage and trading of Scotch whisky and other spirits.
The subsidiary is intended as a platform to secure mature malt supply, support global whisky growth and potentially acquire and operate a distillery in Scotland in future, though no specific targets are currently being pursued.
Radico, owner of Rampur single malt and Jaisalmer gin, has reported record turnover and profits over the past year and is looking to deepen its presence in the UK and EU markets.
Bardstown Bourbon hit with gender discrimination lawsuit
Former Bardstown Bourbon Company vice‑president of HR Sylvia E Sanders has filed a whistleblower lawsuit in Nelson County alleging gender discrimination, retaliation and a hostile work environment at Bardstown Bourbon and parent firm Lofted Spirits, part of Pritzker Private Capital.
The complaint claims Sanders was fired in May 2024 after reporting “illegal, unethical, discriminatory and improper conduct”, including alleged systemic bias, racism, underage drinking at work events and falsified safety documentation; Bardstown says the claims are “without merit” and will be vigorously contested. This is all very frustrating.
Bruichladdichs Rock’ndaal back for landmark Fèis Ìle
Bruichladdich Distillery will bring back its Rock’ndaal festival on Sunday 24 May for Fèis Ìle 2026, celebrating both the 25th anniversary of the distillery’s reopening and the 40th anniversary of the Islay festival itself.
Around 2,500 visitors are expected for whisky, live music, local food and Botanist Gin cocktails, with two limited Rock’ndaal bottlings, a 25th‑anniversary release, and an expanded 500‑person masterclass led by Adam Hannett featuring archive drams and special guests.
Headline acts include Nathan Evans and The Saint Phnx Band, with Cammy Barnes and Calum MacPhail also on the bill; tickets start at £30, while £150 masterclass ballots are open, and key sessions will be streamed for those unable to travel to Islay.
Spirit of Speyside 2026 teases packed six‑day programme
Returning for its 27th year from 29 April to 4 May 2026, Spirit of Speyside will stage more than 600 events and is estimated to contribute over £2.2 million a year to the local economy.
The festival opens with nearly 80 events on day one, including an industry dinner co‑hosted for the first time by Craigellachie Distillery as it marks its 135th anniversary, and expects visitors from more than 40 countries.
Highlights include immersive distillery tours, cask tastings in dunnage warehouses, coopering demos, the return of the Dram Tram between Dufftown and Keith, a four‑day Whisky School and a Friday‑night cèilidh at Craigellachie; the full programme goes live 18 February, with ticket sales from 24 February.
Suntory merges Bowmore and Laphroaig teams, opens voluntary redundancies
Suntory Global Spirits is combining the operational teams at its Islay distilleries Bowmore and Laphroaig into a single unit to “align with long‑term demand” and maturing stock levels.
Distillation continues at both sites, with both brands described as strategic priorities; there are no compulsory job cuts, but a voluntary redundancy scheme has been opened for staff who feel the new structure “may not suit their individual needs”.
Visitor centres will remain open and Suntory is planning a “strong capital investment programme” at both distilleries over the next three years, even as it trims production volumes in line with a wider global slowdown. This is the real cost of the current state of the industry, my thoughts are with those affected and their families.
William Grant distilleries director takes chair at SWRI
The Scotch Whisky Research Institute has appointed William Grant & Sons distilleries director Stuart Watts as its new chair for a two‑year term, succeeding Greig Stables of Glen Grant.
Watts has worked with SWRI since completing his PhD there in 2000 and has served as vice‑chair for the past two years; he now leads a board representing 17 member companies, including Chivas Brothers, Diageo and William Grant.
SWRI, based in Edinburgh, bills itself as the industry’s centre of scientific excellence, running lab and distillery‑based research projects ranging from flavour and maturation to robotics trials for spotting warehouse ethanol leaks.
International Beverage awards £25k to Scottish community charities
International Beverage has announced the latest beneficiaries of its “Spirit of Our Community” awards, sharing a £25,000 fund among Scottish charities and grassroots projects close to its distilleries.
The scheme supports initiatives in areas such as wellbeing, environment, education and local facilities in the communities surrounding sites like Pulteney, Balblair, Speyburn and Knockdhu.
Staff are involved in nominating and supporting projects, underlining the company’s push to show tangible local benefits from its Scotch operations at a time when the wider industry is under economic pressure.
My ten pence worth...
From where I’m sitting this all feels very “boom, wobble, don’t‑panic‑yet.” at the moment. On one hand we’ve got big money still piling into warehouses, Indian investment and US mega‑deals; on the other, Scotch exports are getting clobbered by tariffs, Diageo reporting declines, UK duty keeps ratcheting up and smaller Scottish distilleries are clearly feeling the squeeze.
The “one in five distilleries in distress” line is concerning – it’s a striking headline, but The Grocer is oddly coy about the underlying numbers, and I’d quite like to know exactly which dataset, time window and thresholds they’ve used before we start talking about an industry‑wide crisis. We’re used to stats being waved around to justify all sorts of decisions, so a healthy dose of “show your working, please” seems fair enough.
Still, it’s a small comfort that the advertising regulator appears not to be asleep at the wheel when it comes to whisky cask investment schemes. Given how many “guaranteed” returns have turned out to be about as sturdy as a bar stool with three odd legs and a bad case of woodworm, the fact they’re still pushing back on wild promises is somewhat welcome if not enough. If governments insist on squeezing producers with tax and trade policy, the very least they can do is make sure punters aren’t being fleeced on the side. At least festival season is on the horizon! Anyhow, that's you for this month folks. Why not go and book on to one of my tastings while you're here! All the best. Connas
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