11 Sept 2024
The Macallan Sherry Cask Partnership
The Macallan is pleased to announce that it has agreed to form a partnership with the owners of three businesses renowned for the production of Spanish Sherry seasoned oak casks, securing a sustainable supply of the highest quality European oak casks and underlining the brand’s pursuit of incomparable craftsmanship and whisky mastery.
Under the terms of the partnership, the Tevasa cooperage in Jerez and its sister businesses, Forestal Peninsular and Forestal Peninsular de Cantabria, which operate sawmills in Lugo and Cabezón de la Sal, will come together to form a new company called Tevasa Forestal Group. The Macallan will own 50% of the share capital of Tevasa Forestal Group.
The joint venture will complete a quartet of major investments over the past two years, which will give The Macallan the deepest involvement of any Scotch Whisky company in the production of the finest Sherry-seasoned casks.
The Tevasa Forestal Group joint venture will conclude a series of previously announced investments by The Macallan in the Sherry cask supply chain:
- March 2023: acquired 50% of Grupo Estévez and their Valdespino Sherries, wines and aperitifs, vineyards and bodegas.
- September 2023: acquired the Vasyma cooperage in Jerez, which specialises in crafting American oak casks.
- September 2023: entered a joint venture with Coopers Oak, a specialist sawmill in Ohio which is a longstanding provider of American oak staves to Vasyma.
Igor Boyadjian, Managing Director, The Macallan, said the partnership with Tevasa Forestal Group will further strengthen The Macallan’s Sherry cask supply chain, which is critical to the quality of the brand’s whisky.
"The Macallan has always gone to extraordinary lengths to ensure that our Single Malt Scotch Whisky is matured in the finest quality Sherry-seasoned oak casks. The joint venture will complete a series of investments that will give us an unparalleled level of ownership in the production process of Sherry-seasoned casks."
Igor Boyadjian
Managing Director, The Macallan