Australian businessman David Prior said he hoped to double production at Bladnoch Distillery, near Wigtown.
The single malt will be relaunched and he also has plans to introduce a new blend called Pure Scot.
Mr Prior said it would be aimed at a new generation of whisky drinkers in his homeland and hoped it would have a considerable local economic impact.
"I think there's some great things happening in other parts of the world with whisky - but it has got a long way to go to catch up with Scotch," he said.
"So I wanted to invest in that, I wanted to be part of that.
"I didn't want to try doing it back home or some other market, I wanted to do it here."
He said it was "very exciting" to have Bladnoch in his "stable of businesses".
"I suppose our vision is to see this as a very, very vibrant and big, functioning distillery creating a lot of employment for this region and to be the cornerstone of this community," he said.
"That is what we are working towards."
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The new owner of Scotland's most southerly distillery has revealed ambitious plans for its future.