Glenmorangie, one of the last independent Scotch whisky makers, has been sold to LVMH, the French makers of Moet Hennessy, for £300m.

Glenmorangie, which also owns the Ardbeg and Glen Morray single malts, would be kept as a separate business within Moet Hennessy.

Moet Hennessy is the wine and spirit business two-thirds owned by LVMH and one-third by Diageo.

Commenting on the offer, Keith Edelman, chairman of Glenmorangie, said: “This is a very good deal for our shareholders and employees. Under the ownership of Moet Hennessy, Glenmorangie will continue to realise the full potential of the Glenmorangie, Ardbeg and Glen Moray brands,”

Christophe Navarre, chief executive officer of Moet Hennesy, said: “Glenmorangie is a fine whisky, a growing brand and a strong company. It will be a fitting companion for Moet & Chandon, Hennessy and out other prestige brands. We look forward to a prosperous future together.”