With over fifty new Scotch whisky distilleries recently launched or in the works right now, gone are the days when a new single malt whisky would attract immediate press and fanfare from enthusiasts around the world.
Remember when Kilchoman originally launched? That was a really big deal back then. Everyone wanted to try it.
But do you also remember when Ballindalloch, Inchdairnie, and Dalmunach announced their plans to create new single malt distilleries?
I don’t either.
As I try to get reacquainted with the world of Scottish single malt, there are all sorts of new faces I’ve never even heard of, many with prices that seem quite high for whiskies that seem quite young. With the current tariffs on single malt Scotch, and the industry bursting with so much new blood, I have to wonder if the investment in a new distillery is still paying off for investors.
With all the time it takes to get going, and all the other unrelated booze you have to push in order to bring in revenue, I’m wondering why more producers don’t take a page from the Ian Macleod playbook. Rather than follow the ubiquitous start-up model, Macleod has been quietly revitalizing Scotland’s underutilized and lesser-known distilleries into some of the best in the business. Starting with the purchase of GlenGoyne in 2003, Macleod’s slow, quality-oriented approach has demonstrated real results and real value over the last fifteen years.
The proof is in the glass. Look at GlenGoyne and Tamdhu as two great examples.
The GlenGoyne Legacy and the Tamdhu 15 year are not only among the top single malt bargains I’ve tasted this year, they’re just flat out great whiskies. Neither dram reinvents the wheel, they’re just really tasty Sherry-matured single malts that offer a texture, weight, and viscosity that makes my mouth very happy. I know old-fashioned Highland single malt at a normal ABV doesn’t move the needle in today’s ADHD marketing world, but even after thirteen years in the business I still get excited about a whisky that tastes better than I expected.
When I first broke in the booze business, the major marketing efforts were moving away from Scotch whisky tradition. No one wanted to be boring. New whiskies needed to be big, bold, and edgy with over-the-top ABVs and explosive flavor profiles. The only way you could sell a single malt described as “mellow” or “delicate” was if it had an age statement of 25 years or more attached to it.
While exciting flavors and exuberant descriptions are what bring new drinkers to the market, they’re merely the top of the marketing funnel. As the funnel narrows and consumers become more educated, a large portion of drinkers invariably gravitates towards complexity and restraint. We’ve seen the same thing happen with wine culture, with lower-alcohol and more food-friendly expressions becoming much more popular with the general public, rather than jammy Zins and inky Syrahs.
Because of my beginner’s mindset, I wasn’t paying much attention to traditional, dependable GlenGoyne distillery back in 2010, but it has become one of my go-to standards over the past year, and undoubtedly one of the best values in all of whisky. Compared to Macallan 18 at $299, you can get a bottle of GlenGoyne 18 for $139.99 and it’s comprised of mostly first-fill Sherry butts. You can also get the 21 year for $199, which is the same price as the Glenlivet 21. I know which one I would choose: the one that’s absolutely drenched in mouth-coating, lip-smacking Sherry.
That’s what separates the GlenGoyne whiskies from other bargain malts like the Glenlivet or Glenfiddich: rich, supple, chewy texture. You don’t drink Glengoyne as much as you sink your teeth into it, especially the brand’s new Legacy: Chapter One edition. Bottled at 48%, unchillfiltered, and practically oozing with first-fill Oloroso Sherry character, it’s every bit as inviting as something like Macallan Rare Cask. But it will cost you about $200 less per bottle.
Because of its immense value, Glengoyne’s Legacy release was one of my favorite malts of 2019, bested only by the Tamdhu 15 Year Old, another distillery purchased by Ian Macleod back in 2011. Sweet to the first sip, but bolstered by rounded, mouth-coating waves of honey, dried fruit and caramel, there are few—if any—distillery releases as good as the Tamdhu for $125. I would put it against Macallan 18 and Balvenie 15 any day of the week, and a notch up from Aberlour 16 for sure in terms of complexity and depth of flavor.
There’s a toffee note on the finish that goes on for at least five minutes, teasing my mouth into taking another luxurious sip. I adore this whisky, but it’s important to point out that I don’t get anywhere near the same level of satisfaction from independently-bottled Tamdhu casks that pull stocks from the previous regime. That’s because Ian Macleod invested in top notch Oloroso barrels from Jerez and upgraded the quality of the wood, enhancing the spirit and heightening the quality. When you buy the distillery bottle, you get all that investment right on your tongue.
The investment hasn’t stopped there, however. In 2017, Ian Macleod decided three times was a charm, purchasing the long-dormant Rosebank distillery from its property owners, while simultaneously securing the trademark and back-stocks from Diageo. One of the lost legends of the Lowland, Rosebank never quite garnered the same cult prestige of Diageo’s other fallen treasures like Port Ellen and Brora, with its lighter, triple-distilled character and fruity charm. Set to reopen in 2020, Macleod plans to slowly release Rosebank editions from the 80s and early 90s, while setting out to revamp its third outfit. This project, however, will require a much larger overhaul, as almost all of the existing equipment has been stolen over the years, as well as a heavier marketing effort to convince malt fans globally that Rosebank’s Lowland style is something worth seeking out.
Given the company’s fifteen year track record, I’m not betting against them. Rather than build a completely new start-up from scratch, Ian Macleod has clearly shown the benefits of applying talent to an already existing infrastructure. I’m confident more longtime whisky drinkers will continue to take notice.
-David Driscoll