The world's largest supplier of own label whisky is back in Scottish hands following a £200m management buyout of Jim Beam Brands European division. The business accounts for 9% of worldwide Scotch sales and includes the Invergordon private label operation as well as the number two blended whisky in Scotland, Whyte and Mackay, Vladivar vodka, Glayva and a collection of malt whiskies. JBB's US parent company Fortune Brands said it disposed of the company because it did not fit in with its objectives to concentrate on global brands and global markets. The mbo team, led by chairman and chief executive Brian Megson has renamed the business Kyndal, which derives from a Norse word meaning to set on fire, or arouse. The operation sells 7.4 million cases of spirits a year, worth £126m, and has an operating profit of £20.4m. Sales director Iain Gilchrist was one of the five members of the mbo team. He said: "The plan is to develop our brands on a regional level and invest in them. "Our marketing team will be restructured to deliver new product developments ­ and they won't just be in Scotch. We want to be seen as a creative-company." He believed the business for Scotch was becoming more favourable. "We have been in a period of great oversupply where many companies have been trying to sell a lot of Scotch to a limited number of people. "However, there have been selective cut backs and there is now a much more balanced relationship between supply and demand." Key brands in the Kyndal range have been handled in the UK and some international markets by global distributor Maxxium. Gilchrist said this would continue under a five year agreement. The management team has a 25% equity stake in the business. Financial backing has come from the German bank WestLB and the Rotch Property Group. {{NEWS }}