Fife Whisky Festival Ltd: Keeping the Spirit Alive

The Business
Fife Whisky Festival Ltd was founded in 2018 by Karen Somerville and Justine Hazlehurst to celebrate the revival of whisky making in the Kingdom of Fife. In less than a decade, it became one of Scotland’s leading whisky festivals, earning a place on the national whisky calendar and attracting distilleries, independent bottlers and whisky enthusiasts from across the UK and overseas.

Building on the success of the original event, the business expanded with the launch of The Borderlands Whisky Festival in Lockerbie, demonstrating that the concept could be successfully replicated in other whisky producing regions. Alongside its live events, the FWF Club membership programme created a year round community, giving members access to exclusive bottlings, early ticket sales, merchandise discounts and virtual whisky tastings delivered directly to their homes.

The business generated income through three complementary revenue streams including ticket sales, exhibitor participation and sponsorship, supported by long standing relationships with leading distilleries, VisitScotland, local authorities and hospitality partners. Operating from home with a lean and efficient structure, the business delivered consistent year on year growth, healthy margins and a fully relocatable model with significant opportunities for future expansion.

The Challenge
After nine successful festivals, Karen Somerville and Justine Hazlehurst decided it was the right time to step back and pursue new ventures. This was not a distressed sale or a business in decline. It was a carefully considered decision to hand over a thriving brand at its strongest point.

While achieving the right value was important, it was only part of the brief. The Fife Whisky Festival had been built on trusted relationships, a strong reputation and a genuine sense of community. Karen and Justine wanted to ensure the business would pass to someone who understood what had been created and was committed to protecting its future.

Like many owner managed, brand led businesses, much of the value existed beyond physical assets. The strength of the business lay in its reputation, industry relationships, operational knowledge and loyal customer base. Demonstrating the value of these intangible assets, while maintaining complete confidentiality throughout the sales process, was essential to achieving the right outcome.

What We Did
From the outset, we focused on presenting the business properly while finding the right buyer, not simply the highest bidder.

We produced a comprehensive Information Memorandum showcasing the brand’s history, operating model, membership programme, financial performance and the opportunities available to a new owner. We also documented the business’s valuable digital assets, trademark application and operational systems, demonstrating that a buyer was acquiring a complete, transferable platform rather than simply two annual events.

Confidentiality was maintained throughout, with the business marketed anonymously to protect relationships with exhibitors, sponsors and members while the process progressed.

Rather than relying solely on inbound enquiries, we carried out targeted outreach across the whisky and events sector, identifying buyers who understood both the commercial opportunity and the community behind the brand. This approach generated interest from multiple credible parties, giving Karen and Justine the confidence to choose the right successor while achieving the value they had worked so hard to build.

Michael Couldwell emerged as the standout buyer, bringing industry experience, an understanding of the festivals’ ethos and the relationships needed to carry the brand forward.

The Outcome
The business was successfully sold to Michael Couldwell, who has taken ownership of both the Fife Whisky Festival and The Borderlands Whisky Festival.

For Karen and Justine, the outcome was about more than completing a sale. By handing the business to someone who already understood and valued what they had created, they were able to pass on a brand, community and legacy built over nine years.

With Karen and Justine supporting the handover, both festivals continue under new ownership as Michael leads the business into its next chapter, preserving everything that has made them a respected fixture on Scotland’s whisky calendar.

In Their Words

Karen Somerville, Co Founder of Fife Whisky Festival, said:

From initial contact to completion, our process was clear and simple. We couldn’t have asked for a better broker to assist and advise at every turn.

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Michael Couldwell, who acquired Fife Whisky Festival Ltd, commented:

Being given the opportunity to take on the Fife Whisky Festival legacy is a huge honour, and I couldn’t be more excited to take up the challenge. The incredible work that Justine and Karen have done to build the festival into one of the staples on the whisky calendar cannot be understated.

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Cameron Young, the Business Partnership Partner who handled the sale, added:

Karen and Justine didn’t just want the best price. They wanted the right person. That’s a common instinct with owners who’ve built something from nothing, and it’s one worth taking seriously. We ran a process that ensured the business was presented properly while reaching buyers who genuinely understood the whisky and events sector. Michael stood out because he already knew the festival, its exhibitors and its ethos. Most importantly, Karen and Justine achieved exactly what they wanted. Nine years of hard work passed on to the right person.

Thinking About Selling Your Business?
The sale of Fife Whisky Festival shows that a successful business sale is about more than achieving the right price. For many owners, protecting the legacy they’ve built, preserving customer relationships and finding the right buyer are just as important as the financial outcome.

At Business Partnership, we take the time to understand what matters most to you. Whether that’s securing the value of your business, maintaining confidentiality throughout the process or finding a buyer who will continue what you’ve created, we’re here to help you achieve the right result.

Contact us today for a confidential, no-obligation discussion with your local Business Partnership advisor