Investment Amount: €4,900,000
Industry: Whiskey Distillery and Visitor Centre
Reason for Investment: Capital Expenditure
“Irish whiskey is experiencing strong worldwide growth and our investment helps to provide the Powerscourt Distillery with a robust capital base. The team behind Powerscourt Distillery has many years of experience selling in international markets and, with Noel Sweeney as Master Distiller, they have one of the most experienced and internationally recognised Irish whiskey experts in the world.” said Stephen McGivern, Partner, Baker Tilly Hughes Blake.
The company strategy involves the production of the highest quality new spirit, laying down of stock and the development of international distribution channels for longer term diversified export sales. Target consumers comprise affluent individuals in key local markets of Asia, USA and Europe. “We are delighted to make this investment, which will help Powerscourt Distillery establish itself on the Irish whiskey landscape and to target export markets right from the start.” Mr McGivern added.
Construction of the distillery commenced in 2017, the distillery is now built and functional, with distillation having commenced in June 2018. The visitor is currently undergoing final fitout and is expected to open to the public in early 2019.