October 29, 2020
Business News

Cheers! Investors score €12m following sale of Glendalough Distillery shares

A group of investors, including former Irish rugby captain Brian O’Driscoll, are set to benefit from a €12m windfall following the sale of the remaining shares in the Glendalough Distillery.

Glendalough directors Barry Gallagher and Brian Fagan, who own just under 20% of the 60% between them, will be the biggest winner in the sale to Mark Anthony Brands International, a Canadian-owned alcoholic beverage group.

Meanwhile O’Driscoll, who owns 2.72%, is in line to receive more than €326,000 for his stake which  values the g roup at just over €20m.

Glendalough was set-up in 2011 and produces whiskey and gin from its  base in Newtownmountkennedy and has become the third-biggest premium gin brand in the country and has signed a deal with Coca-Cola HBC Ireland to distribute its products.

Mark Anthony Brands International was established in Dublin in 2014 by Davin Nugent and is part of the Mark Anthony group of companies based in Vancouver.

Photo: Davin Nugent (left) with Glendalough Distillery co-founders Barry Gallagher and Brian Fagan.

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