Investee Company Name: Dundalk Bay Brewing
Investment Amount: €1.8m
Industry: Manufacturing & Brewing
Reason for Investment: Growth capital
The Dundalk Bay Brewing Company has secured an investment of almost €1.8m from the Goodbody 2017 EIIS Fund. The investment will be used to complete the development of the brewery and to fund the Company’s growth over the coming years.
Dundalk Bay Brewing is part of the Spectac Group which was originally founded by Tony Healy in 1986. The Group includes Spectac International which is a specialist designer and manufacturer of stainless steel tanks and manufacturing equipment for clients in the dairy, pharmaceutical, food and drinks industries. In 2016 the opportunity arose for Spectac to leverage their experience and market position as a leading provider of complete brewhouse solutions to develop a brewery which can undertake contract brewing for commercial companies in Ireland and Europe. As a result, the Dundalk Bay Brewing Company was established and has built a 45 HL fully automated brewery.
Dundalk Bay Brewing will contract brew while developing its own Brewmaster brand, with a product range that currently includes an IPA, lager and red ale. The Brewmaster IPA was awarded a Silver Medal at the 2018 Commonwealth Cup in Kentucky, USA the only Irish IPA to do so. An impressive feat given it was in its first year of production.
Commenting on the recent investment Stephen McGivern, Partner, Baker Tilly said “I am delighted to have the opportunity to support a local business of this caliber. I am excited to see the brewery business develop over the coming years and I believe this represents a great opportunity for our investors.” Tony Healy said he was looking forward “to continue to build the business relationship with the Goodbody EIIS Fund management team. This investment is a really strong show of support in our team and the vision we have for our business to grow into the future.”
Spectac International are market leaders in the design, manufacture and installation of stainless steel tanks & vessels for use in a range of industries with a strong track record that lasts over 30 years. Spectac International is the only company in Ireland to provide complete, automated manufacturing system solutions for industrial distilleries and brewers. Spectac’s all-in-one solution offers companies a streamlined process that results in significant and tangible cost efficiencies.
About Dundalk Bay Brewing
Much of Dundalk Bay Brewing’s contract production is carried out for domestic beer companies that do not have the required capacity in-house and also for craft breweries who have started to focus more on the export markets and need to upscale production volumes. DBB is a deliberate strategic attempt by the Group to expand into new areas and has been developed to capture the demand in the rapidly growing craft beer market both in Ireland and abroad. DBB is simultaneously developing their own range of beers under the ‘Brewmaster’ brand.