Macallan was founded in 1824 by Alexander Reid and the distillery was operated from the original buildings of Macallan farm. It was named Elchies distillery after a nearby estate and this name was used until 1980 when the decision was taken to change it to Macallan. The distillery changed ownership a number of times during its early days and some much needed stability came when Roderick Kemp took control in 1892. He had previously been the co –owner of Talisker on the isle of Skye and Macallan remained in the control of his family until 1994, when it was sold to a consortium of Japanese company Suntory and the Highland Distillers Group. In 1999, the distillery became part of the Edrington Group, who are the current owners. The path of Macallan's history changed forever in 1980. The name was changed and the decision taken to concentrate on producing premium quality single malt whisky rather than whisky for blending. Many in the whisky trade thought this was a risky mistake but the decision has proved to be a great success. Macallan is currently the third best selling single malt in the UK and the fifth best selling in the world. A conscious decision was also made to target the travel retail/duty free market by releasing exclusive bottlings and editions of their whisky for that sector. This has again paid off as Macallan lies in second place for worldwide duty free sales, behind only Glenfiddich.