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The original distillery was founded in 1826 by James Gordon and Peter Weir however Weir withdrew the following year and Gordon continued alone.
In 1979, a fire destroyed the vast majority of the distillery rendering it effectively useless. A local banker by the name of James Fleming then constructed a new distillery a few kilometres upstream of the Spey river. It was sold in 1892 to Robert Thorne and Sons who expanded but six years later another disastrous fire struck, destroying the distillery. Thye architect Charles Doig was employed to design the new facilities.
In 1921 it was sold again, this time to W. H. Holt & Sons who then sold it in 1945 to S. Campbell & Sons. In 1962, the distillery terminated its personal floor maltings and in 1973 the number of stills operating was doubled to four.
Pernod Ricard bought over Campbell Distilleries in 1975 and they have owned the distillery ever since.