International Beverage has bought New Zealand whisky distillery Cardrona.

The drinks business – which owns five Scotch whisky distilleries including Speyburn, Pulteney, and Balblair – has acquired the Cardrona Distillery and visitor centre near Wanaka on New Zealand's South Island and its range of drinks, including the Cardrona single malt whiskies, The Reid vodka, and The Source gin.

International Beverage said it would invest in the distillery site and build the profile of Cardrona's spirits in its key markets of New Zealand, the UK, and the US, as well as using its global network to find new routes to market. It follows International Beverage's recent acquisition of Larsen Cognac as the company attempts to strengthen its foothold in new world spirits.

Desiree Reid, who founded Cardrona in 2015, will stay on as the distillery's managing director. She said: "This is an exciting day for all of us at Cardrona Distillery. Building Cardrona has been a remarkable journey, made possible through the work and support of many, many people. I’m thrilled that International Beverage shares our belief in Cardrona’s quality and potential as we embark upon the next chapter of our story together."

Malcolm Leask, UK managing director of International Beverage, said: "The team has done an excellent job in building Cardrona’s super-premium brands to date with so much integrity, quality, and potential for the future. We are very much looking forward to working with them to build on their success within our international network, as we strengthen our premium spirits portfolio for the global market."