This move will expand William Grant & Sons’ scotch portfolio, which already boasts Grant’s, Monkey Shoulder, Glenfiddich, and The Balvenie.

Edrington, in turn, will focus solely on its premium single malts and other high-end spirits, stepping away from the blended scotch market.

A spokesperson for William Grant & Sons commented: “Having been around for over 125 years, The Famous Grouse has a rich history and would be a significant addition to our portfolio.

“The brand has potential for innovation and international growth in a number of markets, and we’re excited about what the future holds.”

The acquisition is subject to customary regulatory approvals, including from the Competition and Markets Authority.