The Macallan is one of Scotland's most popular whisky distilleries and its rare aged bottlings have become some of the world’s most collected and expensive whiskies on the planet. Founded back in 1824 it has been a stalwart of Highland whisky ever since. More recently it has been at the forefront of the Scotch whisky revival and its 1926 release hit the headlines all over the world by becoming the most expensive whisky bottle sold at auction for an astronomical $1.9 million dollars. The Macallan's history 
The Macallan distillery was founded in 1824 by farmer Alexander Reid and became one of the few licensed distilleries following the Excise Act of 1923. In 1868, James Stuart took over the distillery and rebuilt it. Stuart ran the site until 1892, when Roderick Kemp, a distilling giant who previously owned the Talisker distillery, took over and led the distillery to success.  Kemp’s ancestors managed the distillery for over a century, until 1994 when the Highland Distillers Group took ownership. Finally, in 1999 the Edrington Group took control and Macallan led the company to unprecedented growth. Most recently, in January 2020, Suntory, a long-time partner of Edrington, acquired a 10% share in the group.  Through well-placed advertising, marketing, and brand-building, The Macallan has managed to draw in young professionals to the brand, a sector that previously had little interest in whisky. From the turn of the millennium, the Macallan brand has gone from strength to strength, positioned today not only as a premium spirit but a luxury brand. The early 2000s saw the team at Edrington build the brand’s fanbase by launching a single-cask program, the Exceptional 1. This increased rarity and exclusivity beyond widely available age statements and would go on to be one of the most successful ranges under the brand.  The Macallan's collectability On their journey to becoming the most collected single malt Scotch whisky in the world, the brand released many different ranges, each with different receptions. To this day, the Macallan collaboration with Lalique on the Six Pillars set and the Macallan 72 Year Old are two of the main drivers of their global success and they gained notoriety in different Asian markets. To show the steep growth of the Macallan’s collectability we need only look at a Christie’s auction which took place in 2007. At that time, the Macallan 1926 sold for $US75,000. In December 2019, the same bottle sold for $US1.9 million, breaking the world
record for the most expensive whisky bottle ever sold.   Of the 40 bottles to be released of the Macallan 1926 – 12 of the bottles were released with a label created by Italian artist Valerio Adami, and 12 were released with a label created by Peter Blake, most famous for his artwork for The Beatles. The Peter Blake labelled Macallan hit the headlines with the sale of a set at Le Clos at Dubai airport for $US1.2 million. The same year saw a bottle of Valerio Adami 1926 sell at auction in Edinburgh for over $US1 million and at the end of 2018, a one-of-a-kind 1926 bottle designed by Irish artist, Michael Dillon, sold for $US1.5 million at Christie’s in London.  The records broken at auction for Macallan can be listed by the dozen these days, what is clear the Macallan’s growth as a collectable is astounding. Such a feat isn’t achieved overnight, and while the brand attracts much criticism from the whisky fanatics, its impact on the industry is real. Many whisky fans believe the quality of the spirit has dropped, as the brand continues to shift away from age-statements to NAS expressions. This wouldn’t
be an issue, but many of these NAS products are seen by many as largely overpriced.
 The brand invests greatly in advertising, PR, and events, in order to make the Macallan product match the luxury brand it’s perceived to be. Just last year, over £140 million went into opening the new Macallan distillery, a state-of-the-art facility that took years of planning and building. The new site again hit the headlines and has attracted thousands of
visitors the world over since the site opened.  While not singlehandedly, the Macallan brand has helped lift the entire Scotch whisky market into the luxury sector and allowed many other Scottish whisky brands to raise their price tags and grow in global markets. Some of the best buys from the Macallan include: Macallan Sherry Oak 18 Year-Old (2019) The Macallan 18 Year Old is a classic and one of the best expressions to taste for a well-rounded, deep understanding of the Macallan and their use of premium sherry casks hand-picked from Jerez. The Macallan has long been known for the rich depth that comes from their skilful creation of sherry-forward whiskies and the rich depth of the 18-year-old is a perfect example and what they can do. While many of the higher-aged expressions from
the Macallan are hard for most to open up, due to their rapidly appreciating value, the 18-year-old is still at a price that allows fans and collectors alike to open and savour without a heavy heart. Tasting notes: Rich dried fruits burst through on the nose, with figs, raisins, and a touch of roasted nuts all from the influence. The palate brings hints of citrus alongside the rich fruit, joined by warm spices, and a touch of oak.  Macallan Edition 4 The Edition series by the Macallan, now on its 5th Edition, has grown increasingly popular over the years, both as a collectable and a range to drink. As each new Edition launches, the previous ones grow more expensive. Today, the Edition 1 sells for over 10 times its original value upon release in 2015. Out of all, the Macallan Edition 4 is one of the most balanced
in the series, and includes liquid aged in seven different types of sherry casks. An affordable and very enjoyable dram.  Tasting notes: The nose opens with walnuts and dates, a touch of orange peel and some orchard fruits. The palate is rich and smooth with honey, milk chocolate, and a hint of winter spice. The finish brings more spice, paired with citrus and rich sherry.  Browse all current Macallan listings or explore more Editorial 

We explore the history of The Macallan Speyside distillery and chart its incredible commercial success in the recent Scottish whisky revival and what today remains the best buys from the distillery. 

Exploring The Macallan, one of Scotland's most popular whisky distilleries, and its rare aged bottlings that are some of the world’s most collected spirits

The Macallan producer portrait 

The Macallan: producer portrait

It’s not every day that you get to taste wines made over half a century ago – but earlier this month I got to trace CVNE’s flagship Imperial Gran Reserva all the way back to the 1947 vintage. Victor Urrutia, the fifth generation of his family to take the helm of this legendary Rioja producer, put together a tasting of what he called “the dirty dozen” – lining up 12 vintages of Imperial. The wines were chosen to show how the wine speaks across a range of vintages – not just the most famous, but the hot, the cold, the mighty and the mediocre.  CVNE has been making wine in Rioja Alta since 1879, so – even going back to 1947 – this tasting offered just a snapshot of its history. Imperial was created in the early 20th century (1917 is the earliest vintage Urrutia himself has tasted), conceived as “super Rioja”, Urrutia explained. The idea was to make the best wine possible, regardless of its commercial potential, at a time when Rioja didn’t have the prestige of today. Around 50,000 bottles are produced, but – importantly – Imperial isn’t made in every vintage, with the quality of the fruit in some years not meeting CVNE’s stringent standards (there was no 2003, 2006 or 2013, for example, and there won’t be a 2023 either).  For Urrutia, the goal with Imperial now is to reflect each vintage, and fine-tune the wine rather than look for revolution. The early vintages are their benchmark and inspiration. Across the vintages, however, Urrutia points to a “churchy” nose – something he finds is distinctly Imperial and reminiscent of the winery.  It’s easy, perhaps, to forget how well Rioja ages – and not just over a decade or two, but over half a century. The oldest vintage in this tasting, the 1947, was undoubtedly the star – a wine that has retained its freshness, with delicate aromatics and a beautifully long, pure, resolved palate. The entire flight impressed – with the quality of Imperial shining through. Some of Rioja’s legendary vintages featured (the 1970 and 1959, which sit alongside the likes of 1982 and 1964 in the history books), but my personal favourites were the aforementioned 1947, the still compact 2004 (named Wine Spectator’s Wine of the Year in 2013), the brooding 2011 and pretty, elegant 2018.   The Imperial vineyards  The fruit for Imperial Gran Reserva comes from CVNE’s best vineyards, all over 40 years in age and almost all bush vines, yielding around 4,000kg/ha (equivalent to circa 25hl/ha or less than 1.5 tons/acre). The parcels all sit close to the Cantabrian mountains, at around 500-600 metres’ altitude, and on poor but cool soils (clay and limestone) – lending the wines great freshness, even in hot and dry years, explains longtime Technical Director María Larrea.  The village of Villalba de Rioja has been the backbone of the wine since its conception. This village was where the Real de Asúa brothers (who founded CVNE) first bought vineyards, four kilometres from Haro. The vineyards are steep and south-facing, exposed to the winds and some of the vines therefore have to be trellised (cordón Royat), but it brings acidity and freshness to the wine – something that is essential for its ageing potential. Parcels in the villages of Briones and Torremontalbo were added later, in the 1960s. Briones has richer soils, gentle slopes and a warmer climate, giving structure and body to the wine, while Torremontalbo has steep, stony slopes with calcareous soils and a significant diurnal shift, adding minerality and finesse to the blend.  The Imperial blend  The blend has shifted over the years, with the wine originally around 40% Garnacha and 40% Tempranillo, with the remaining 20% Graciano and Mazuelo. The old vineyards were field blends, with the varieties interplanted and harvested together, meaning mixed ripeness levels – something that arguably brought balance and complexity to the wines, even if some of the fruit wouldn’t have been ripe. Nowadays, each variety is planted separately at CVNE – allowing them more control and precision, harvesting each grape at the perfect moment and crafting a blend in the winery.  There was a move away from Garnacha in the 1970s, with more and more Tempranillo planted instead. Garnacha was less appreciated, seen as a workhorse, an impression that was only reenforced when lesser, high-yielding clones were planted in the 1980s and 1990s. As Larrea also noted, Garnacha is much more prone to coulure and millerandage (poor flowering and fruit-set), which may have been another factor in its decline. There was also a time, Urrutia explained, when Bordeaux was the reference point for fine wine, and they looked to imitate the region, favouring Tempranillo for its darker colour versus the more thin-skinned and therefore pale Grenache. Today, the blend is dominated by Tempranillo (with the 2017 and 2018 Imperial both 85% Tempranillo), but Grenache is undergoing a revival across Rioja and – provided they can have the right clonal material and/or older vineyards – it may contribute more to the blend in time.  The proportion of Graciano and Mazuelo has been reduced slightly, but Larrea emphasises how important the two grapes are in the face of climate change. Mazuelo (aka Carignan/Cariñena) provides structure and colour, while Graciano contributes acidity and aromatic complexity.  The winemaking  Although she joined CVNE in 1991, María Larrea took over the winemaking for Imperial with the 2005 vintage, following on from Basilio Izquierdo, who had been running things for over 30 years (since 1973). Before Izquierdo came Ezequiel García, known as “El Brujo” (“The Wizard”), winemaker for CVNE for over three decades (he returned briefly in 2014 to recreate their legendary white, Monopole).  Across the three winemakers and almost 70 years, surprisingly little has changed. The winemaking here remains extremely traditional, although technology has allowed the team to monitor the wines more closely, and for better winery hygiene, as in most regions. Fermentation remains indigenous, although it’s no longer spontaneous – the wines have been inoculated with a selected strain of their indigenous yeast since the early 2010s (with some experiments in the 1990s). Traditionally fermentation was in concrete tank, however this moved to oak in the 1990s, with one lone vintage (1994) fermented in stainless steel when the vats hadn’t arrived in time.  The wines used to be stored in barrel and only bottled when they were sold, so some older vintages of Imperial spent over a decade in barrel, while today the wine normally stays in barrel for between two and three years. (The bottling dates for each of the vintages is included below – the 1947 wasn’t bottled until 1960!) Originally the oak was all American, simply because that is what they had access to via their historic trade routes, and the barrels were kept for decades (Larrea remembers using 40-year-old barrels when she arrived in the 1990s). CVNE gradually started introducing French oak in the 1980s, with around 30% French oak used in the 1990s and around 60-70% today, with the remainder American.   The wines: tasting eight decades of CVNE Imperial  A note on the bottles themselves: older vintages are in green glass, however they moved to brown glass around 10-15 years ago.  2018 Imperial Gran Reserva: This was a real highlight of the vertical. It is very youthful still, fruit-forward, yet with amazing finesse and delicacy. The nose is precise with dainty aromatics of spice, graphite and florals alongside the crystalline fruit. The palate is juicy and lithe, pure, silken and fresh with savoury tobacco and dried red berries filling the mouth-watering finish. Beautiful and very open, even now. Fermented in oak, 14% alcohol and bottled July 2021.  2017 Imperial Gran Reserva: Frosts swept across much of Europe in late April in 2017, although the rest of the season was relatively warm, producing a tiny crop of concentrated fruit. It’s a drastically different wine to the 2018, yet still with great freshness and a floral lift alongside ripe, sweet red fruit. The palate is tight, much less approachable than the 2018, with compact tannins, a bite of crunchy acidity and a grip of firm tannins, while smoky tones that fill the finish. Decant to enjoy now, but this will be even better with a couple more years in bottle. Fermented in oak, 14% alcohol and bottled July 2020.  2015 Imperial Gran Reserva: The 2015 Imperial is dark and intense, layered with rich bramble fruit, cedar, tobacco, spice and something meaty – a hint of biltong, perhaps. The palate echoes the concentration of the nose, with chewy tannins and a line of acidity that cuts through its intensity. Powerful, almost stern, with more dried fruit coming out with air, the finish is long and savoury, with a touch of red miso. Fermented in oak, 14.5% alcohol and bottled June 2018.  2011 Imperial Gran Reserva: Another standout in the vertical, the 2011 Imperial offers a dark and pure nose, still surprisingly primary with black cherry and cassis fruit, lifted by sweet spicy perfume. The palate is silken and pure, still so youthful, flowing across the tongue, framed by firm but integrated tannins. It’s concentrated and long, with floral aromatics dancing on the juicy finish. Hard to resist with great balance. Fermented in oak, 13.5% alcohol and bottled July 2014.  2009 Imperial Gran Reserva: This is a very serious Imperial now at a lovely stage of maturity – with savoury undergrowth and spicy notes sitting alongside the vibrant dark berry fruit. The palate is intense yet with a softness to it, despite the chewy framework of tannins. It’s juicy and expressive, with smoky, spicy, tobacco notes playing on the finish, and just the slightest hint of leather starting to appear. Fermented in oak, 13.8% alcohol and bottled January 2013.  2004 Imperial Gran Reserva: From “a textbook vintage” in CVNE CEO Victor Urrutia’s words, the 2004 is shining. Pencil shavings and bacon complement ripe, dark fruit. The palate is tight and compact, yet with a juiciness that elongates the whole thing, with acidity that drives through to the long finish. The tannins are supple and soft, integrated with the fruit, but still offer a grip on the finish. Bright and effortlessly balanced. Fermented in oak, 13.8% alcohol and bottled October 2008.  1994 Imperial Gran Reserva: This is an intriguing vintage of Imperial, the only one ever to have been fermented in stainless steel as they were switching from cement to wood, but the new vats didn’t arrive in time for the vintage. It was also served at the wedding of Spain’s Crown Prince, who later became King Felipe VI. After the 2004, this marks a shift towards wines dominated by tertiary notes, although there’s still plenty of fruit here. The nose is spicy with mushroom and undergrowth alongside incense and leathery tones. The palate is laden with umami – with fresh leather and dried berry fruit – as well as dried strawberries, supple tannins and refreshing acidity. Fermented in stainless steel, 13.16% alcohol and bottled June 1998.  1980 Imperial Gran Reserva: As CEO Victor Urrutia said, 1980 was “a shit vintage” – and has always been in the shadow of 1981 and 1982. Tasting the wine today, that’s probably fair – however it’s still an impressive wine. The nose has a distinctly herbal, menthol edge to the sweet fruit – macerated strawberries, with a balsamic hint. The tannins still offer bite, while the fruit shifts to darker, more bramble tones towards the finish. Fermented in concrete, 13.4% alcohol and bottled May 1985.  1970 Imperial Gran Reserva: The 1970 vintage was hot and produced powerful wines – earning it a reputation as one of Rioja’s finest vintages. After over 50 years, the wine is intensely savoury – combining soy, marmite and barnyard tones with intense, dark fruit. With air, the wine offers layers of spice (almost reminiscent of paprika), bacon frazzles and smoked almonds, complementing the concentrated core of fruit. It’s intense yet balanced, with bright acidity that keeps everything fresh and fills the long finish. Fermented in concrete, 12.97% alcohol and bottled March 1975.  1968 Imperial Gran Reserva: From a more difficult vintage, the 1968 Imperial has a charming nose that seamlessly combines savoury and sweet – with earthy richness that sits alongside incense-inflected berry fruit and a pleasing herbal note. The palate is elegant and vibrant, with plenty of fruit still driving through its core, while more savoury, smoky notes dominate the finish. Fermented in concrete, 12.7% alcohol and bottled April 1974.  1959 Imperial Gran Reserva: The 1959 vintage is another of Rioja’s most lauded, although I suspect this bottle was not showing its best. There’s a plushness and intensity to the palate, with a sharp drive of acidity, while the nose is dominated by leather, black liquorice and barnyard. Fermented in concrete, 13% alcohol and bottled February 1968.  1947 Imperial Gran Reserva: An amazing wine to tasted, the 1947 CVNE Imperial has a reputation – one that this bottle more than lived up to. Coffee and tobacco notes with bright fruit – ripe red cherry and raspberry, as well as florals, incense, black tea and sage, alongside smoky perfume. It’s long and fresh on the palate, seamless and fully resolved but pure and persistent, with a Bovril edge to the finish which is vibrant and long. Gorgeous now – drink it while you have the chance. Fermented in concrete, 12.4% alcohol and bottled August 1960.  Explore all CVNE listings, including a range of back-vintages of Imperial Gran Reserva, or read more Editorial 

Earlier this month, CVNE hosted a once-in-a-lifetime tasting of their Imperial Gran Reserva. Sophie Thorpe explores what makes the wine so special and how it has evolved over eight decades 

Exploring CVNE’s flagship Gran Reserva Rioja, Imperial, back to 1947 at a once-in-a-lifetime tasting with CEO Victor Urrutia 

Tasting CVNE’s Imperial Gran Reserva Rioja 2018-1947 

An icon through the ages: CVNE’s Imperial Gran Reserva 

A prince’s kiss rouses the cursed princess from a century-long slumber in Sleeping Beauty
but the man responsible for Bordeaux’s long-overdue reawakening was not a prince (this being the French Republic after all) but Alain Juppé, France’s former Prime Minister.  Bordeaux had been comatose, earning it the nickname la belle endormie, but the indefatigable politician has given the city the kiss of life. Listed as a UNESCO World Heritage site in 2007, it is now the most desirable place to live in France and was voted “European Best Destination 2015’. Bordeaux's renaissance is a real-life fairytale. Bordeaux was a “melancholy, unwelcoming place” just 20 years ago but the arrival of Alan
Juppé as mayor in 1995 has transformed the city’s fortunes, making its centre as elegant as its wines. Blackened buildings and abandoned warehouses are now a thing of the past and, with the arrival of the high-speed rail link, connecting the city to Paris in just two hours, living in Bordeaux is as aspirational as drinking its first growths.” When Juppé was elected as mayor in 1995, Bordeaux was not the modern and vibrant place it is today. Deputy mayor Stephan Delaux, who worked alongside Juppé for more than two decades, admits: “Bordeaux had a reputation as a melancholy, unwelcoming town. The town wasn’t modern – that is to say that in the town centre, cars, trucks, buses, car parks dominated. The building fronts were black, the waterfront was a relic of a once-busy
port; the warehouses [on the waterfront] were empty. The people of the city no longer knew they lived by a river – there was no life there.” He paints a rather depressing picture but throughout its history, Bordeaux’s sons have
portrayed the city in a none-too-flattering light: the novels of Nobel-prize-winning writer François Mauriac (1885-1970) whose bust now stands in the leafy public gardens, depicted Bordeaux and the surrounding areas as a bleak and uptight place to live in the early 20th century. Similarly, one of Alfred Smith’s (1854-1932) best-known works ‘Le Tramway devant les Quinconces par temps de pluie’ depicts a grey, wet day on the banks of the Garonne, umbrellas up and those without hurrying, heads bowed. It’s not a place you would have aspired to live.  Things didn’t get much better during the 20th century: local tour guide Veronique Baggio recalls a ramshackle apartment she lived in in the 1980s. “The building’s bathroom was in the attic so I had to leave my apartment to use it.  At that time the city was trying to push locals to improve the inside of buildings [to improve living conditions].  It wasn’t until the late 1990s that they started to focus on cleaning up the outside of the buildings and the public places.” Today, the buildings are impeccable – a mass sandblasting effort has unveiled the natural caramel and blonde tones of the local limestone, which were long hidden. Here and there, a few reminders of the past can be seen along its narrow streets: a blackened façade, as if smeared with charcoal.  Yet the renaissance of Bordeaux required more than a spit and polish. The length of the city’s riverbank had long been hidden by a line of ugly warehouses designed to cater to the needs of a port city. Since the 19th century, sugar and spices from far-flung places were unloaded to be reloaded by local timber and wine. The commercial port moved away in the 1970s from the city centre but the warehouses remained, as did the businesses that catered for the all-male docking crews.  Charles Sichel, export director of Maison Sichel, a wine merchant in the Chartrons district since 1883, explains:  “20 years ago there were a few seedy bars [on the quais] and where the new bridge is [Pont Chaban-Delmas] there were working girls. It was interesting taking customers out to lunch when there were girls standing in the doorways waiting for business – it was quite something – but I can’t remember them ever saying anything!” How times change. The waterfront is now the playground of the Bordelais, filled with joggers,
cyclists and prams promenading along its length; a place for concerts, festivals and open-air markets.  It is a sunny day and a Viking cruise liner lounges at the edge of the city centre overlooking children skipping in the water mirror, a slick of water that, as its name implies, reflects the classical architecture of the Place de la Bourse (Stock Exchange Square). It has become Bordeaux’s iconic postcard picture (and an unwitting urban water park) and represents the new face of the city – clean, bright and, dare I say it, fun.  The reawakening of the city has been noticed far beyond the city’s ring road; it has become the most desirable place to live in France, according to a survey commissioned by the Observatoire du Bonheur in 2015. Asked in which French city they would most like
to live, nearly one in five respondents answered Bordeaux – ahead of Montpellier, Toulouse and streets ahead of Paris.  Just an hour’s drive from the beaches of the Atlantic and three hours to the ski slopes of the Pyrenees, Bordeaux is now within commuting distance of Paris. A high-speed rail link (TGV) cuts the travel time between the two cities from more than three hours to two hours and five minutes in July 2017.  The spruce-up now continues beyond the city centre. Gliding north along the quai past Sichel’s office in the Chartrons district, the tram has started to deposit an unprecedented number of tourists in the Bacalan district. It’s certainly not the prettiest of suburbs, home to run-down docks, abandoned factories and a huge concrete mass that was once a submarine base, but the Juppé magic dust is now being sprinkled here and the opening of the Cité du Vin in June 2016, a towering sphere of gold and silver in a Frank Gehry meets Zaha Hadid-construction, is a pivotal part of its future. Tourists  - and most locals -  have had no reason to come here but that’s changing with 421,000 visitors walking through its doors in 2018. La belle endormie has woken up but the city continues to dream big. Sichel is rightly proud of his hometown. “Now, every time my customers come here they all comment on how beautiful the area has become. Juppé has turned this city around.” Explore more Editorial

Listed as a UNESCO World Heritage site in 2007, it is now the most desirable place to live in France and was voted “European Best Destination 2015’. We explore the renaissance of Bordeaux 

Exploring the renaissance of Bordeaux, from being named a UNESCO World Heritage site to being crowned the most desirable place to live in France 

Bordeaux revival - the city's transformation

Bordeaux revival: A reinvention of the city

The Scotch whisky world is a fickle beast. In its 500-year history, the number of distilleries in Scotland has swelled and contracted many times. There have been myriad casualties, and very few have lived through these downturns without shedding stills and stocks to stay afloat.  The less fortunate were shuttered temporarily, mothballed for inordinately long periods of time, or were ghosted with no hopes of revival. In many cases, everything – lock, stock and, quite literally, barrel – was sold to pay off debtors, and the site was razed to the ground. In the years that have followed, these silent or so-called ghost distilleries have taken on an almost mythical new name: lost distilleries. While these producers were invariably unknown while in active production, the allure of what is no more has made them astoundingly popular, sending prices into the tens, and in many cases, hundreds of thousands. In the 40-plus years since the last whisky loch, when a devastating number of distilleries were forced to close, some producers have languished in relative obscurity, with only the most devout knowing of their existence and diligently sourcing their precious nectar. Others have developed a cult-like status and become exceptionally collectable as a consequence. So collectable, in fact, that their owners have moved heaven and earth to bring them back to life. The most famous are those considered the “Holy Trinity” of lost distilleries: Port Ellen, Brora and Rosebank. “They are the lost history of Scotland’s distilling and whisky heritage,” Stephen Rankin, Director of Prestige at independent bottler Gordon & MacPhail, says wistfully. “They are from a time when whisky was made slightly differently from today. It’s a lost character. We cannot go back and make these whiskies like they were originally made. They reflect both the time as well as the people and place in our history,” he adds. When the vast majority of these distilleries were in production, huge quantities of their output was destined for blends. Their young single malts simply were not available, or more accurately, were not widely available, as distillery bottlings. If it hadn’t been for independent bottlers like Gordon & MacPhail, who prudently bought stock and squirreled it away, when distilleries were closing down in their droves, then these whiskies would almost certainly have been consigned to the very dusty history books. “I think the popularity has a lot to do with the mystery of times gone by and what older whiskies used to be,” the newly appointed Rosebank Distillery Manager Malcolm Rennie tells me. “There’s a certain element of the misty-eyed past being better in some way,” he muses. “Not always the case in my opinion – the exception being Rosebank, of course,” Rennie quips. For James Mackay, Head of Rare & Exceptional Spirits at Diageo, which owns Port Ellen, Brora (and Rosebank until 2017), it’s all about the experience. “Due to the very nature of ghost distilleries and their finite stocks, these are whiskies we will never be able to taste again. When you share a whisky from a ghost distillery with a friend, they’ll know that they're being treated to something completely irreplaceable and there is something very special about that.” This special experience is a costly one. Collectors – and flippers – have driven the price of lost distillery bottlings to exorbitant highs. Questions have been raised about what the reawakening of these lost distilleries will do to the prices of existing bottlings and where these new-old whiskies from the likes of Port Ellen, Brora and Rosebank will sit in terms of price and taste profile. On this last point, Mackay says: “This is the big question we’re all asking ourselves.” He continues: “We are confident that the new Brora and Port Ellen whiskies will sit amongst the best in the world, however we’ll have to wait two or three decades before we know for sure!” In terms of taste profile, Rennie says the new Rosebank will be a “very accessible” whisky “on the lighter end of the scale with a typical fresh, fruity smooth character but with an additional dimension of distillery character giving some depth also”. On the question of price, he says “I couldn’t comment.” Adding: “It would depend on age, I’m sure. Safe to say Rosebank will be viewed as a premium whisky.” In many ways, Rosebank was the least likely lost distillery revival, as Diageo offloaded the distillery site to British Waterways in 2002, and the original three pot stills and mash tun were stolen by thieves in 2008. Rennie says it has been a real honour to be entrusted with resurrecting the distillery, which was mothballed in 1993. When we speak, three new copper pot stills are being delivered to the site – a landmark moment in any distillery’s history, old or new. A new distillery team is being assembled and the goal is clear: emulate the original, heavy and oily triple-distilled style of Rosebank spirit. The new Distillery Manager says no expense has been spared on equipment and operating systems to give the team as much control as possible. He acknowledges there will be a lot of trial and error to get the spirit character to where they all want it to be, but he is confident the finished article will be “as good as, if not better, than the original”. “It may take a few goes but we will get it,” Rennie adds determinedly. When asked why he thinks the Lowland distillery has become such an icon, Rennie says: “I think the fact that Rosebank was always a sought-after whisky way back in time says a lot. It was in demand 100 years ago by blenders, so the spirit was always special. It didn’t become special only because it closed, not like some other lost distilleries. “Rosebank has always been seen as the ultimate Lowland whisky and deservedly so. When it was closed in 1993 that reputation was only going to be enhanced and [it was] a real loss to the local area and overall whisky industry.” Rosebank’s location on the banks of the Forth & Clyde Union Canal was integral to its prosperity and eventual closure. In many ways the distillery’s fate was sealed when the canal which connected Scotland’s two main cities, Edinburgh and Glasgow, closed in 1963. When the whisky industry spluttered and stalled in the 1990s, the then-owners made what many believe to be the wrong decision to officially mothball the distillery. To great surprise and delight, Ian Macleod Distillers announced in 2017 that Rosebank would be revived having secured the site from Scottish Canals – a former division of British Waterways – and acquired the remaining stock from Diageo in preparation for the £10 million project to bring Rosebank back to life. The decision to restore Brora and Port Ellen was also made in 2017, 34 years after their closure. Mackay says this was partly a response to the demands from whisky enthusiasts but also as a result of the strong growth in single malt Scotch and the opportunity to create a new generation of whisky consumers. He says the £35 million restoration process – which started at the same time for Brora and Port Ellen – has required enormous support from local communities, teams of highly skilled engineers, whisky noses and the Diageo archives. Brora, in the Highlands, took little under four years to bring back to life and opened in May 2021. Port Ellen on the isle of Islay has taken slightly longer and should begin distilling in spring 2023.
 With an eye to the future, many speculate which ghost distilleries could be earmarked for revival next – Diageo alone owns another 15 of them. Rankin believes there are very few left that could come back, but when pushed suggests there could be one or two, depending on the condition of the buildings, their current broader environment and land use around them, and the financing structure in place of those doing the resurrection. He remains tight-lipped on which. Regardless, there has arguably never been a more exciting time in Scotch whisky, with lost distilleries being brought back to former glory, a glut of new distillery builds and collectability at an all-time high. “It is a unique time for whisky lovers,” Rankin agrees. “Scotland shall be seen as the home of single malt and blended whisky. Those overseas are starting with a blank canvas and are making their own history, while those new in Scotland have the legacy of a 500-year-old industry to build upon. “Even if the whisky that draws them in is one distilled in Japan or the USA, India or Switzerland, they will find their way to Scotland and in turn to past bottlings from our history, as well as to new expressions from long-established brands, resurrected ones, or brand new ones. “As my grandfather said: ‘The future is shaped by what you do today, while today reveals what we did in the past.’” As the past and present meet, there will be a keen eye on these formerly lost distilleries and what their resurrection means for those fortunate enough to own bottlings from a bygone era. Five of our favourite lost distilleries Glenury Royal Highland whisky distillery Glenury Royal has a rather ill-fated history. Severe fire, a distillery worker death in a boiler-incident and ultimate closure in 1985 have all befallen the distillery which once stood near Stonehaven in Aberdeenshire. Despite all this, the Glenury Royal name has survived, and very aged bottlings are increasingly scarce and collectable. Diageo has released some remarkable aged Glenury Royal bottlings (including a 50-year-old) as part of its highly sought-after Cask of Distinction series. Gordon & MacPhail has also bottled some rare Glenury Royal single malts. Littlemill Littlemill is the oldest licensed whisky distillery in Scotland. Whisky from the Lowland producer is incredibly rare and is no longer being produced after the distillery was closed, demolished and consumed by fire. Some independent bottlings and very rare own labels have been released. To date, Testament – a 44-year-old limited expression distilled in 1976 – is the oldest single malt from Scotland’s first distillery. Celestial Edition (40 years), Private Cellar (25-, 27- and 29-year-old) and a 1991 vintage have all been released in extremely limited quantities. Port Ellen The  Port Ellen distillery on the south coast of the Hebridean island of Islay is responsible for some of the rarest peated single malts on the market. The distillery, founded in 1825, was a victim of the whisky downturn and eventually shuttered for good in 1983. As stocks decreased, secondary market demand for Port Ellen intensified and bottlings regularly fetched five-figure sums. The distillery is being brought back to life with two copper pot stills that are faithful replicas of the originals, and two smaller stills which will produce more experimental and innovative spirit.  Brora Brora distillery – or Clynelish as it was originally known – was established in 1819 by the Marquis of Stafford, later the Duke of Sutherland. Sadly, Brora was a casualty of the 1980s whisky loch and closed its doors in 1983. In the years that followed, Brora has become one of the most highly sought-after Scotch whiskies. Some of the most expensive bottles ever sold have included the 40-year-old Brora bottlings from 1972 which have sold for upwards of £26,000. Many believe bottlings from the late 1960s and early ‘70s to be the most exciting in Brora’s distilling history. There are some remarkable official and independent bottlings from the early 1970s as part of the Rare Malts series and Douglas Laing & Co’s whiskies. Rosebank Rosebank is a highly sought-after and respected Lowland producer, famed for its triple-distilled whisky, that was mothballed in 1993. In the years that followed, Rosebank joined Port Ellen in Islay and Brora in the Highlands as one of the hallowed, and highly collectable, trinity of lost distilleries. The so-called “King of the Lowlands” developed a cult following for its triple-distilled whisky – a practice that is highly irregular in Scotland as most double distil. With new whisky from the distillery unlikely to appear until 2030, there will be heightened interest in and demand for the last remaining bottles from the original distillery. Browse all Scotch whisky listings or read more Editorial 

Some of the most collectable whiskies are those from distilleries that no longer exist. These ghost or lost distilleries hold a unique allure – but as attempts to revive Scotland’s so-called “Holy Trinity” get underway, Holly Motion explores whether it’s really possible to turn back the clock

We explore how Scotland’s most coveted and iconic distilleries have come back to life, including the Holy Trinity of Brora, Port Ellen and Rosebank. 

Haunting the present: ghost whisky distilleries

Haunting the present: ghost distilleries

The smallest event can set us on our path. A chance encounter, a favourite book narrated to us as a child, or a popular culture icon that we’re desperate to imitate. For Meghan Ireland, it was a double-page spread in a magazine. She might not remember who it was about, but the subject lit a fire in her that burns just as brightly many years later. “I was like wow, that’s what I want to do,” she says – eyes as wide as saucers – in the back room of the WhistlePig farm-cum-distillery in Vermont. The Whisky Advocate feature on a female Master Distiller showed the second-year Chemical Engineering student and “total chemistry nerd” a career she hadn’t previously considered open to her. “I got super determined after that,” she says. After cutting her teeth in a craft cider role, Ireland joined WhistlePig, or “the playground for distillation” as she describes it, which was under the inimitable stewardship of distilling icon Dave Pickerell. “He was just an amazing guy,” Ireland says. “Big personality and incredibly smart. He was always pushing innovation and experimentation and that’s something that has really stuck with this company.” Pickerell’s untimely passing in 2018 sent shockwaves across the industry, and many still talk about the role he played in the craft spirits revolution and subsequent rye whiskey revival. Many twittered about the fate of WhistlePig without the great man and his boundless creativity. This speculation only intensified after his successor’s short spell at the helm of the company. Today, Emily Harrison and Meghan Ireland head up distilling and blending at WhistlePig and, if their enthusiasm and first whiskeys are anything to go by, then those naysayers were very wide of the mark. “Dave gave us the ability to kind of run wild and create different experimentation options,” Ireland says. This creative energy is palpable in Ireland’s words and evident in everything the team has produced to date. “To this day my CEO asks me on a weekly basis, ‘What’s your new idea? What are we trying this week? What’s the new concept?’ He is always pushing, and he is always asking.” For some, this relentless pursuit might be draining, but it seems to have the opposite effect on Ireland. “To actually be able to explore and experiment with different options has been awesome.” Since its inception in 2015, WhistlePig has gone from a slightly obscure project to a formidable force on not only the American whiskey, but global whisk(e)y, stage. To get the brand off its feet, Pickerell and founder Raj Bhakta were very transparent about the fact they sourced whiskey from elsewhere in Canada. Today, the distillery is making strides in becoming a truly farm-to-bottle rye whiskey. “As much as we can, we want to produce a product that is ours fully,” Ireland says. “We are excited about releasing more and more of our own stuff to show off to the world what we can do here in Vermont.” The 500-acre former dairy farm is in a unique position – conceptionally and geographically. While the land may be fertile and the agricultural produce is verdant, the soil and water are both incredibly hard. As a consequence, the team has continually experimented, adapted and learned the best ways to use its triple terroir – grain, water and wood – to its advantage. “It makes who we are,” Ireland says. “You’re starting with very simple ingredients – rye and water. So, they are going to make up a big part of your flavour profile. I think terroir is huge in any distillation process.” Another huge part of the innovation at WhistlePig and the thing that really excites Ireland is the single finish programme. The Whiskey Blender has carte blanche to pick barrels and make one-off products. Part of her role, and one you sense she relishes, is finding the barrels. Ireland scours barrel libraries and leans on her contacts for anything new and exciting that appears on the market. There’s little she won’t try at least once. “I’m willing to put whiskey into anything,” Ireland says with those wide eyes. “I’m always looking for something different and unique. It’s fun to see when it’s going to hit that sweet spot between under-finished and over-finished.” She has been experimenting with Triple Sec and apricot brandy barrels, and a “couple of different wine finishes” are all maturing when we speak. The way the stills are designed (by Pickerell) allow for flexibility and are perfect for experimentation on both the front and back end. As with any experimentation, there have been some less successful outcomes. “I did a coffee barrel that was awful,” Ireland says, stifling a laugh. “It was bad. I was thinking like Irish Coffees and I thought it could work really well. People drink whiskey and coffee together anyways but that did not turn out good.” She hasn’t abandoned that idea just yet though. “I do think there are some adjustments that I could make and potentially still get a good product on that line of thought, but our first try was not there.” In terms of unicorns, Ireland says there are a couple of different Californian barrels she’d like to try and she’s trying to get her hands on a rosé barrel. “Not a lot of rosés are barrel-finished,” she says. “But I think that would be super interesting and a lot of fruity flavours would come into the whiskey potentially.” For the time being, the Whiskey Blender is experimenting with the many barrels she watches over. “I’m going out pretty regularly and pulling samples and trying to hit that point where I think we get the best flavour out of the different barrels. I’m getting to continue to push the boundaries of what we can put whiskey into.” One suspects it won’t be long before Ireland’s story inspires a whole new generation of chemistry nerds. Browse all available WhistlePig whiskeys or read more Editorial 

Since it stormed onto the whiskey scene in 2015, WhistlePig has rarely been out of the headlines. Success, tragedy and villainy have all befallen the zero-generation distillery in its short history. We talk to the bright new light at the Vermont-based innovator

WhistlePig's bright new light on the next chapter in the Vermont-based rye whiskey innovator's history after a period of flux and front-page stories.

The story behind WhistlePig Rye Whiskey

WhistlePig: behind the headlines 

Alongside Macallan, Dalmore is leading the luxury end of the Scotch whisky revival, with its top-designated aged whiskies now reaching astronomical prices. We explore this historic distillery following its refurbishment and highlight F+R’s top picks from the range. The refurbishments were born from a simple problem: the whisky distilleries back home in Scotland can’t keep up with guests’ expectations. Those who have visited some of the many whisky distilleries in Scotland know that the setup is usually very basic, and simple. Men and women from the area work in old sites, mossy warehouses, tight fermentation rooms, and sterile still rooms.  Few sites have visitor centres and those that do keep the experience simple. A Scotch distillery is a piece of Scottish history and the luxurious and high-end image many brands now enjoy in markets across the globe doesn’t match the old, cosy distilleries back in Scotland. However, this is changing. As the value of certain releases skyrockets on the secondary market and huge investors and collectors emerge in Asia and the U.S., these distilleries need to fit the role of a huge, luxury brand. Visitors to Scotland for whisky tours fluctuate each year and, put simply, if a Chinese buyer pays £1 million for a single bottle of Macallan, the distillery needs to be up to par
when said buyer decides to visit. The new, state-of-the-art Macallan distillery came to be for a reason.  Now, the Dalmore has followed suit and upgraded their facilities. Unlike the Macallan, they have held on to some of the old structures and areas that make the Dalmore what it is; the character must remain. However, the team has renovated the visitor's centre, added a kitchen and chef team, a private dining room and bar, all the areas to make guests feel truly welcome. The still room has been opened up for a more ‘majestic’ view of the massive stills and the maturation warehouses have been organized for guests to see some of the rarest Dalmore casks in existence upon entering.  Over a night at the distillery with Richard Paterson, we were taken through the distillery and the renovated areas. The tasting room features bottlings of the famed Dalmore 64 and 62. These were, most likely, replicas but the Dalmore team (with a smile) nor confirmed nor denied this.   Bottles of Sherry, Port, and Bourbon from the producers the brand receives their casks from, were present as were educational materials to study up on the distillery and whisky in general. The secret dining room is perfect for small and mid-sized groups, and the chef does an amazing job of using Scotland’s finest ingredients for a fun and colourful menu.  Dalmore bottlings and casks have been rising steadily, especially in China, Taiwan, and the rest of Asia. Just recently, the brand launched the new Dalmore 51 Year Old. And with Richard Paterson set to retire this year, many other commemorative bottlings are expected to follow. Let’s look at the one-of-a-kind Dalmore 60-Year-Old. According to Paterson, ‘the spirit was distilled on June 7th, 1951, and the two ex-sherry casks used to create this expression are the
last of the Mackenzie era, the family that ran the distillery for over three generations.’ The project was led by Paterson, who carefully married the two casks to create the new 60 year-old.  The new release is close in age to the series of Dalmore 62 Year Old bottles, each one commemorating a milestone in the Dalmore's history, from the start of the distillery in 1839. Most recently, the brand collaborated with famed Italian chef, Massimo Botura, to create the
one-of-a-kind 49 Year Old Dalmore L'Anima, which sold at auction for £108,900. Since the launch, the new Dalmore 60 Year Old has been sent on a journey around the world, to launch in China, the US, Taiwan, and other markets. Once it returns to the UK it will be sold to the highest bidder, but we do not yet know which auction or retailer will be used. As whisky becomes more of a luxury product many distilleries have begun to upgrade their facilities. However, we’re hoping that the traditions, timeless structures, and old practices remain as those are what make Scotch whisky such a loved spirits category steeped in rich history. The Dalmore has managed to maintain both, so if you haven’t yet, now’s a great time
to visit. Dalmore 35 Year Old Released in 2016, the Dalmore 35 Year Old will see 1,000 bottles released a year until 2021. With this in mind, it’s a great time to stock up as a possible discontinuation may be on the horizon. The whisky within has been aged in a combination of casks- a Matusalem sherry, a bourbon barrel and a colheita port pipe. This brings forth an amazing balance in the whisky,
with depth that only over three decades spent in oak could bring. To remain on par with the liquid, a hand-blown crystal decanter crafted by French crystal house Baccarat was produced for the release.  Tasting note: The nose is delightfully bursting with juicy fruit, mangoes, bananas, pineapple, and some passionfruit. Vibrant for a whisky of this age. The tropical fruit continues on to the palate now joined by some spice, gingerbread and some roasted coffee with honey. The finish is long and smooth. Dalmore 45 Year Old As if the 35-year-old wasn’t old and rare enough, the Dalmore brought us a 45-year-old expression in 2018. Unlike the 35, only 500 bottles of the Dalmore 45 Year Old were released worldwide. The liquid matured in ex-Bourbon casks and was then moved into two different Graham’s Port Colheita pipes from the 1961 and 1963. The liquid was finally married together
in first-fill ex-Bourbon casks. Again encased in Barracat crystal decanters, this is one of the most sought-after Dalmores in the world. Tasting note: Incredible complexity here, with soft berries leading to rich honey on the nose. The palate delivers dark chocolate and Manuka honey, followed by toffee-covered apples and roasted chestnuts. A complex yet balanced expression, with a liveliness one wouldn’t expect from a whisky aged for almost half a century.  Browse all current Dalmore listings or read more Editorial 

We were one of just eight lucky guests invited to visit The Dalmore’s refurbished distillery as the team launched its 60-year-old bottling commemorating the distillery’s 180th anniversary.

Notes from our visit to The Dalmore’s refurbished distillery as the team launched its 60-year-old bottling commemorating the distillery’s 180th anniversary.

Notes from our Dalmore Distillery visit

America’s native spirit has never been in greater demand. After years in the doldrums with production at record lows of 500,000 barrels per year, Bourbon is experiencing one of the greatest Cinderella stories in the modern spirits industry era. At last count, the number of barrels maturing in the United States had swelled to 10.3 million per year, which is a whopping 436% increase since 1999.   The reasons for the pendulum swinging back in Bourbon’s favour are multiple. The introduction of the first single-barrel Bourbon from the mid-1980s, coupled with the classic cocktail revival in the late ’90s to early ’00s, started to pique interest. Within a few short years, the Old Fashioned cocktail and brands like Blanton’s and Pappy Van Winkle were appearing front and centre in some of the biggest TV shows and films in America. Drinkers and the wider whiskey world were starting to wake up to the fact that Bourbon was a seriously good spirit. Producers couldn’t fill barrels fast enough. There was new dawn for high-priced, collectable American whiskey – and bottlings were soon like gold dust.   “Right now, in Kentucky, if I go to a liquor store, I can’t find our products on the shelves,” Drew Mayville tells me. “They are all gone. People have bought them or they don’t even make it to the shelf.”  Mayville has worked in the alcohol industry for over four decades, for the first 23 years at Seagram’s (before “it was put up for sale and my bubble burst”) and for the past 18 years at Sazerac, which produces some of the most coveted Bourbons on the market (think Pappy’s, Blanton’s, E H Taylor and Eagle Rare) at its Buffalo Trace distillery in Kentucky.   “People think [the Bourbon boom] happened overnight but it didn’t,” the Master Blender and Director of Quality says.   “I would say about 10 or 15 years ago it started to make its cycle back to favour,” he adds. “Even Pappy Van Winkle, which is one of the most sought-after Bourbons that we make, didn’t happen overnight.”   Mayville has witnessed the cyclical nature of drinking trends throughout his career and seen the various booms and busts in the United States as tastes moved from dark spirits to white spirits and back again. He believes one of the reasons Bourbon is so popular right now is largely down to its approachability.   “American whiskey tends to be very palatable,” Mayville explains in his Canadian drawl. “Scotch is more of a learned taste; lots of people drink Scotch around the world because they are so used to it.  “Part of the reason that Bourbon is very palatable is the corn. It provides a lot of that sweet fruitiness,” Mayville adds.   In order to be called Bourbon, the spirit needs to be made from at least 51% corn. The second grain in 95% of Bourbon produced is rye, which gives it a spiciness. The other 5% of Bourbon has wheat in place of rye – these wheated Bourbons are softer, as the fruit notes from the corn are accentuated by the addition of wheat. (Straight rye whiskey is also made from corn and rye, but with the rye dominating, meaning it can’t be classed as Bourbon.)   Contrary to popular belief, Bourbon can be made anywhere in the United States but 95% of Bourbon is produced in Kentucky. Bourbon must be distilled no higher than 160 proof (80% alcohol) and matured in newly charred oak barrels.   Despite its current popularity, Bourbon does have a long distilling tradition; it was first produced in Kentucky in the 1780s when distillers discovered charring barrels mellowed corn whiskey. After a strong start, Bourbon struggled during the two World Wars and was heavily affected by the temperance movement and Prohibition in the United States. Sales recovered by the middle of the century and American whiskey entered something of a golden age in the 1950s.  Unfortunately, this prosperous period was short-lived when drinkers once again turned their backs on brown spirits in favour of white spirits in the 1960s and early ’70s, kickstarting the vodka revolution that has only recently started to wane. This about-turn resulted in the first American whiskey surplus – known as a lake in world whiskey and loch in Scotland. Producers were left with gallons upon gallons of surplus whiskey and inevitable closures followed.   “We kinda skipped a generation and now we’re going back that way,” Mayville says stoically.  Now, with sales more buoyant than ever, there is a rush to ramp up production – fast. Sazerac is in the process of spending an eye-watering $1.2 billion on the Buffalo Trace distillery in Frankfort, Kentucky. A new column still, cookers and boilers are all being installed to double capacity. New, 60,000-barrel warehouses – the largest in Kentucky – are also being built every four or five months, at a cost of circa $30 million. This is scale on an unprecedented level.   Buffalo Trace is not alone in this endeavour. Producers of Old Forester and Woodford Reserve Brown-Forman are increasing their distillery space, and the makers of Four Roses have spent more than $50 million on expansion. Global spirits behemoth Diageo has also invested a reported $115 million on a new distillery and four warehouses with a total capacity of 330,000 barrels for its Bulleit Bourbon and other, as yet unannounced American whiskey brands.  “We’ve been making more and more every single year but it’s just never enough,” Mayville tells me.   “It’s a lot of money and it’s a big risk because if people don’t buy the product in 10 years from now, you’re going to have a lake of whiskey,” Mayville adds with knowing caution.   It’s hard to imagine the current Bourbon boom going bust when producers are showing such confidence in the category and bottlings such as Pappy Van Winkle Family Reserve can sell on the secondary market for upwards $20,000, but there are no guarantees.   For Mayville, this change in fortunes is a real boon but his real focus is on the quality of the liquid and innovation at the stills – the sales figures are somebody else’s concern.    “The part that really excites someone who has been around as long as I have is doing new things and innovation,” he says with glee. Much to this industry veteran’s delight, this creativity is championed at the very top of his organisation.   “We can go away, do experimentations, spend money, and not even tell anyone – and it’s actually encouraged,” he says, still clearly unable to believe his good fortune.  Mayville says the American drinks market is great at keeping him honest, always expecting something that wows and excites them.  “We’re always, always trying to innovate, embrace that change, and try and make better products,” he adds.“ We run so many different experiments, trying to make better whiskeys. It’s hard to list them because there are so many. There are thousands of barrels ageing right now that are experiments.”   One of his most recent experiments was the Colonel EH Taylor 4 Grain, which was named one of the best whiskeys in the world in 2017 by Jim Murray in his Whisky Bible.    “You can’t predict exactly what’s going to happen,” the Master Blender says humbly. “We’re doing so many experiments – another one could well be one of the best whiskeys in the world.”   With creative genius like Mayville at the helm of some of these distilleries, continually striving for quality, it’s hard to see the Bourbon gold rush ending any time soon. One thing that is for sure, though, is whiskey lovers and collectors will continue to scramble for what little Bourbon there is on the market until distillers can mine their liquid gold. Browse all American whiskey or read more Editorial 

After some very challenging years, American whiskey producers feel like they’ve struck gold. Demand for Bourbon is at an all-time high and distillers can’t pump out enough liquid to meet a seemingly unquenchable thirst. Holly Motion investigates the Bourbon boom 

Exploring the reasons for the current Bourbon boom in the United States with Buffalo Trace’s Drew Mayville, who produces Pappy Van Winkle, Blanton’s and more

Exploring the Bourbon whiskey boom

Gold rush: the Bourbon boom

Closed Japanese whisky distillery Karuizawa is a phenomenon. For its entire operational life, it was barely known inside of Japan, let alone internationally. Yet today, its whiskies are recognised globally as amongst the finest and most age-worthy ever bottled and today is one of the most sought-after labels in the burgeoning rare whisky investment market. Bottles of Karuizawa continue to break all the records. Just last month a bottle of Karuizawa 52YO (1960) Cask #5627 became the most expensive Japanese whisky ever sold at auction, a single 70cl bottle selling for £366,000. So, what is it that drives the demand and what qualities do bottles of Karuizawa possess which others don’t?  Like most whisky distilleries, its origins are humble, and the astonishing demand is relatively new, closely paralleling the upward trajectory of the rare whisky market over the past ten years.  Limited production  By Scottish whisky distillery standards, Karuizawa had a short lifespan. Established in 1955 it was operational for only 46 years before being closed in 2001, a consequence of an economic slump domestically which impacted an industry with limited exports at the time.  Although now synonymous with single malts, the first spirit to leave the still in 1956 was destined for blending and this continued until a switch in focus and the release of its first single malt in 1976. At the time Karuizawa was said to be Japan’s smallest distillery and so the relatively short years it was active, coupled with a relatively low capacity to produce single malt, led to an always limited amount of whisky on the market. Moreover, after lying dormant for well over a decade, Karuizawa was eventually demolished in 2016 by its then-owners Kirin
Brewing Co, dashing any hopes of a revival. Karuizawa's unique character  Fitting for such an extraordinary distillery was its extraordinary location on the southern slopes of one of Japan’s most active (category A) volcanoes – Mount Asama. Named after the town in which it was based, Karuizawa is under two hours by train northwest of Tokyo and at the time of writing is the only town to have hosted both summer and winter Olympic Games
events.  The cold snowy winters, summers with up to 80% humidity and cool average annual temperature of eight degrees, creates specific atmospheric conditions ideal for whisky maturation. These conditions have been credited with creating the unique characteristics of Karuizawa single malt – the ability to age gracefully for many decades, whist retaining an abnormally high alcoholic strength and concentrated complex flavour. In terms of raw materials, it is rumoured that The Macallan may have been the inspiration. It is certain
that they sourced the same grain and wood having imported Golden Promise barley
from Britain and Sherry casks from Spain. Distribution  Had it not been for the formation of specialist Japanese whisky distributor Number One Drinks Co. in 2006, it is quite possible Karuizawa would have never entered whisky enthusiasts’ consciousness on the scale it has today. Founded by Marcin Miller and David Croll, it was after a cask sampling session in 2009 and after learning production had ceased, that they bid to purchase the distillery. The bid was rejected but a counterbid to
purchase the inventory was accepted after protracted negotiations making Number
One Drinks Co both owner and distributor of Karuizawa whisky.    Export markets beckoned and soon London-based retailer The Whisky Exchange and Parisian-based retailer La Maison Du Whisky would be blown away by what was presented to them and began bottling casks for an initially sceptical European market. Quality cannot be ignored however and a joint bottling in 2009 by the aforementioned retailers was compared with some legendary Scotch whisky bottlings when reviewed by respected whisky blogger Serge Valentin describing the Karuizawa 42YO (1967) Cask #6426 as “a Japanese masterpiece… once again, this baby reminds me of some old Springbanks. Say of the best sherried ‘Local Barleys’, if that rings a bell to you.” 95 points. Karuizawa-mania ensued, fuelled also by the success Japanese whisky was experiencing as a category on the international stage, most notably Hibiki and Yamazaki scooping numerous ‘World’s Best’ awards and receiving critical acclaim including the famous Jim Murray Whisky Bible award for Yamazaki Sherry Cask 2013 Edition, reported in the mainstream media as ‘Japan beats Scotland’.  The finite supply, increasing demand and sheer quality of the whisky meant Number One Drinks Co had an increasingly valuable commodity. Ever the purist, Marcin is reported to have soon tired of the spiralling secondary market prices and decided to sell off what remained of the reported 364 casks they originally owned and went on to found Japan’s first-ever gin distillery (Kyoto Distillery) trailblazing within a new category with Ki-No-Bi gin.    Presentation You’d be forgiven for being a little underwhelmed by the presentation of some early releases of Karuizawa. A case in point is the previously mentioned Karuizawa 42YO (1967) Cask #6426, which at the time was the oldest Japanese whisky. Now retailing for £20,000 inc VAT, it consists of little more than a glass bottle, white sticker label and thin cardboard box. At
the time of release however there was no precedent for the returns Karuizawa would achieve on the secondary market and at a release price of £250, considered expensive at the time, most were indeed opened and drunk.  Today, the most high-profile releases of Karuizawa are collected and displayed like works of art. The Karuizawa Pearl Geisha’s by Elixir Distillers are a stunning example of how the presentation can entice collectors and send secondary markets into a frenzy. They were a 2019 release exclusive to FINE+RARE and consisted of just 71 bottles of a 37YO Karuizawa and 172 bottles of a 38YO. When these two bottles are placed side by side, the
labels form a mirrored image of a Geisha visually as impressive as the whisky itself.  These were the fourth release in the series so not only were collectors desperate to get their hands on these two but also the previous editions and any future ones.  The future of Karuizawa No one knows exactly how many ‘new’ Karuizawa releases there will be. The remaining casks Number One Drinks sold are said to have gone to three buyers who control the market and have been releasing intermittently since. What we can be sure of is there is very little left to be bottled and we are witnessing the final years of releases after which the number of bottles in the market will only decrease year on year.  The story of Karuizawa is already legendary and it is one which cannot be repeated. For future generations of whisky enthusiasts all that will be left is the ever-decreasing supply and the chapter of Karuizawa in the history of Japanese whisky. In addition to the final releases however, there will be whisky for future generations which is intrinsically linked to Karuizawa.  Although the distillery site was completely demolished, the pot stills that created the unique ‘new make’ were rescued and are already producing spirit which is being laid down at Shizuoka Distillery. There was also one final run in the old distillery site in 2006 by Ichiro Akuto of Chichibu Distillery fame. A 2006 distilled Karuizawa crafted by Ichiro Akuto is something that we hope to one day see.   Browse all available Karuizawa or read more Editorial 

Bottles of Karuizawa continue to break all the records. Just last month a bottle of Karuizawa 52YO (1960) Cask #5627 became the most expensive Japanese whisky ever sold at auction when a 70cl bottle sold for £366,000. So, what is it that drives this demand? We investigate

Closed Japanese whisky distillery Karuizawa is a phenomenon. Find out about the distillery that has produced some of the world's finest bottlings

Karuizawa, Japan's most expensive whisky

Karuizawa: Japan's most expensive whisky

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As a result of the quantity requested for delivery, we recommend using Third Party Shipping. If you proceed with our Shipping, there may be a delay to the selected ship date.

As a result of the quantity requested for delivery, we recommend using Third Party Shipping. If you proceed with our Shipping, you will not be able to define a ship date, and we will get in touch with you to arrange delivery.

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Due to the quantity requested for collection, there may be a delay in meeting your requested collection date.

Due to the quantity requested for collection, it is not possible to define a collection date at this stage. Our team will liaise with the warehouse and contact you directly to confirm a suitable pick-up date.

This item has been listed by a collector and is available for storage or immediate delivery

For orders with a high value, we recommend shipping with a third party carrier. Items shipped with third parties will remain in banded OWCs.

Due to the quantity requested, you won’t be able to select a collection date. Please submit your request, and we will liaise with our warehouse and confirm the collection date with you directly.

Due to the quantity requested, you won’t be able to continue the purchase. Please select third party, or change the quantity (maximum 48 is allowed).

Due to the quantity requested, you won’t be able to select a shipping date at checkout. Please submit your request, and we will liaise with our warehouse and confirm the delivery date with you directly.

For up to 499 bottles in storage, the rate is 39¢/bottle per month or a $50 minimum monthly charge (this covers up to 142 bottles). For over 500 bottles, the storage rate is 35¢/bottle per month.

Storage is charged at HKD 40 per 12-bottle case per month. A minimum monthly storage fee of HKD 80 applies, covering up to 24 bottles.

Standard storage rate

By selecting third-party shipping, you will take full responsibility for all aspects of legal compliance and authorize Vinfolio to transfer the items to the party specified in your instructions. Items shipped via third parties will remain in their original packaging.

Collection times are between 8:30am - 12pm & 1:30pm - 4:30pm, Monday to Friday. Wines at Will Call, that are not picked up within 10 business days, will be transferred to storage and subject to a $1.50 per bottle stocking fee.

Items to be sourced and shipped to our state-of-the-art fine wine storage facility for the best possible safe-keeping where you can arrange collection from our warehouse address in Napa.

Will Call (Napa)

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We're in the final stages of upgrading to our brand-new trading platform. As part of this transition, we're currently migrating all customer-owned inventory to ensure a smooth and seamless experience.

Our new and improved platform will be ready for you on Friday, April 4.

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About description for demonstration purposes

shows all the items you currently store with us. These items can be sold, delivered or transferred.

At {shortName}

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represents all the wines that are in your possession and have been consumed.

This is the price you paid for this item.

Cost price

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The lowest price you're willing to sell at.

shows all the items that you have pre-ordered, including en primeur wines, and all the items on your watchlist.

Futures

You can set a sell price on items you're selling based on a % of current unit net value.

You can set a market price on items you're selling based on a % of current unit net value.

shows all the actions that you have taken on items in your Portfolio.

groups every action by type - Purchase, Sale, Delivery, and Inbound Transfer - so it's clear at a glance what happened to each item.

History

shows all the items that are currently in transit to or from {shortName}.

In transit

Local delivery is free for orders over HK$1,800 (to a single location). For orders below this value, delivery is HK$150 for up to four cases and HK$50 per case thereafter.

Shipping starts from €15 within Italy and €45 to Switzerland and the rest of Europe for up to 48 bottles (75cl). Costs vary by destination. Larger shipments can be quoted on request.

The date shown below is when your order will ship from our local warehouse. Your final delivery date, along with full tracking details, will be provided once our team has processed your request.

You can arrange collection from our Retail store on 22nd Floor, 8 Wyndham Street, Central Hong Kong.
Collection times are between 9:30am-13:00 and 14:00-18:00pm, Monday to Friday. We are closed on public holidays.

You can arranged collection from our warehouse STI INTERNAZIONALE SPA, on Viale del Lavoro, 57, 37051 Bovolone, Verona.
Pick-up hours are between 8:30 AM to 12:30 PM and 1:30 PM to 5:30 PM, Monday to Friday. We are closed on public holidays.

This is the current estimated market value for this item.

Manually set prices will be overwritten. Already listed wines are not affected.

Updates all unlisted wines to current market price.

Set all at market

represents all the wines you currently have in your Portfolio that aren't stored with us. Press the

My cellar

Name

Net price

New portfolio available

New portfolio

You do not have any invoices at this time.

shows all the items from your Portfolio that are currently on the market.

On sale

shows all the items you currently have in your Portfolio. You can perform individual actions on them from this page.

Overview

shows any items that are currently awaiting user action.

Pending

This is the dynamic estimated value of the item with trading margin removed.

This is the amount of profit you will receive if your listing sells.

Pre-authorised payments enable automatic transactions on your behalf, ensuring seamless and hassle-free payments. This allows recurring charges, subscriptions, or scheduled payments to be processed without manual approval each time.

The number of cases you wish to place on sale

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Before you request delivery, you can adjust the quantity for each item in your selection below.

* At time of sale a 15% trading fee will be deducted from the final sale price.

Total estimated value*'

The fixed custom price you wish to sell each item for.

Split into {caseSize} individual {bottleSize}cl bottles.

Title

shows all the items you currently store with us. These items can be sold.

Available for sale — items stored with {name} eligible to be listed on the marketplace.

Profile

This item is at Vinfolio, available for storage or shipping. For more information on shipping and handling visit vinfolio.com/shipping

This item is at FINE+RARE HOME Hong Kong, available for delivery or local pickup. Most Hong Kong deliveries can be made within 3 working days, an exact date will be available when arranging delivery. International deliveries have longer lead-times, please contact us for details.

Wines sold en primeur will be released from the producer after bottling, typically 18 months after the so-called campaign ends. Upon arrival your wine will be stored at Vinfolio in our temperature-controlled warehouse until you decide to take delivery.

We will source this item at the guaranteed price from our network of suppliers and arrange expedited shipment to FINE+RARE.
 The lead-time depends on many variables, but 2-4 weeks is typical for expedited sourcing.
 Once your order is confirmed, we'll keep you updated on its ETA.
 Every item is checked on arrival by our expert team, with photographs available on request (please note that charges may apply).

When a wine is on "pre-arrival", it means that we have a confirmed order on the bottles from our supplier and we are simply waiting for the winery or distributor to ship the wine to us. The delivery timeframe for pre-arrival wines varies significantly, depending on where the wine is coming from. We will notify you once they arrive at our warehouse and, at that point, you can decide to arrange shipping or list them for sale.

Revival Vineyards

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