Operations began illicitly in 1811 but Cardhu was likely the first of the Speyside distilleries to take out one of the new licences after the Excise Act was passed in 1823 - and the first distillery to be run by women (first Helen Cumming and then her daughter-in-law Elizabeth Cumming in 1872). In 1884, the distillery was completely rebuilt with the old stills and waterwheel being sold to William Grant who was in the process of building the Glenfiddich distillery. In 1893 the distillery was sold to John Walker & Sons and it instantly became the base malt for all the Johnnie Walker brands.