THE ONLY INDEPENDENT whiskey distillery in Ireland has been bought out by a US spirits giant for almost €73million.
Cooley Distillery, based on the Cooley peninsula near Carlingford, Co Louth, announced yesterday that it had agreed a deal worth $95million with Beam Inc, based in Illinois.
Beam produces a number of well-known spirit brands including Jim Beam bourbon, Courvoisier cognac, Teacher’s Scotch whisky and Sauza tequila.
Cooley is best known for its Kilbeggan, Connemara, Tyrconnell and Greenore whiskeys. In a statement, Beam president Matt Shattock said Irish whiskey was one of the “highest growth categories” in the drinks industry.
The Carlingford distillery currently produces 250,000 cases of whiskey every year.
Shattock said Beam were “eager to work with the Cooley team, led by the Teeling family, who have built Cooley with so much pride and passion, to capitalize on the opportunities that lie ahead.”
John Teeling, founder of the Cooley distillery, said: “The renaissance in Irish whiskey, most evident in the United States, is now spreading across the world. Through Beam, our brands, built on quality, will be introduced to a host of new consumers.”
The Cooley distillery hit headlines earlier this year when €270,000 worth of their whiskey was stolen.
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