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Scottish Malt Distillers
Scottish Malt Distillers Ltd (SMD) was a whisky company established in 1914 in order to consolidate the resources and business interests of malt distillers in the Lowlands. Its founding members were the Glenkinchie, Rosebank, St Magdalene, Grange and Clydesdale distilleries. The Distillers Company owned shares in the venture through St. Magdalene and in 1925 it bought the remainder to make SMD a wholly-owned subsidiary. In 1929 the decision was made to put it in charge of the management of the group's entire malt distillery portfolio in Scotland, and this was implemented the following year. The majority were subsequently licenses to blenders however SMD did retains some for itself.
The merger of Distillers Company into United Distillers in 1987 was followed by mass restructuring of its Scotch whisky operations and SMD was eventually no longer required. It was later dissolved entirely by Diageo in 2011.