{"id":299300,"date":"2026-01-23T10:44:07","date_gmt":"2026-01-23T10:44:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/299300\/"},"modified":"2026-01-23T10:44:07","modified_gmt":"2026-01-23T10:44:07","slug":"powerscourt-distillery-to-be-sold-to-us-investors-in-deal-agreed-with-receivers-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/299300\/","title":{"rendered":"Powerscourt Distillery to be sold to US investors in deal agreed with receivers \u2013 The Irish Times"},"content":{"rendered":"

Powerscourt Distillery<\/a> is to be sold to Altiva Management for an undisclosed sum after a deal was agreed by receivers Interpath Advisory with a commitment of a \u201csignificant cash injection\u201d made by the buyer.<\/p>\n

The transaction is expected to be completed in the coming weeks, with staff informed on Thursday.<\/p>\n

The deal will include the sale of a \u201clarge volume of bulk whiskey\u201d, which was produced in the distillery, in addition to the company\u2019s brands, including the Fercullen brand, intellectual property and a transfer of the leasehold interest in the operating distillery and visitor centre.<\/p>\n

All current members of staff are expected to transfer to the buyer.<\/p>\n

The distillery leases the visitor centre and distillery property from the Slazenger family, who own the Powerscourt Estate. <\/p>\n

[\u00a0Powerscourt Distillery: Receiver puts business and \u20ac35m worth of whiskey up for saleOpens in new window<\/a>\u00a0]<\/p>\n

While the receivers had hoped to secure a full asset sale of the business, they will now look to sell the remaining bulk whiskey, which includes product acquired from Cooley Distillery a number of years ago.<\/p>\n

\u201cWe see tremendous potential in Powerscourt Distillery and are committed to supporting its talented team as they look to grow and thrive over the coming years. Adam Morgan, a director of Altiva, said.<\/p>\n

Altiva Management Inc is a Nevada-based private investment adviser, according to filings to the US Securities and Exchange Commission (SEC).<\/p>\n

Mr Morgan said the firm\u2019s focus \u201cwill be on strengthening the market position of the business, growing its brand and investing in innovation to ensure sustainable success.\u201d<\/p>\n

\u201cWe appreciate the craftsmanship and time it takes to produce quality whiskey such as Fercullen and are looking forward to supporting Powerscourt Distillery on the exciting journey ahead,\u201d he said.<\/p>\n

Roger Duggan, the chief executive of the distillery, said it is a \u201cgreat day for Powerscourt Distillery, having secured a strong and supportive new ownership structure. It marks the beginning of an exciting new chapter for our business.\u201d<\/p>\n

Mark Degnan, managing director of Interpath said it was a \u201cgreat outcome for both parties\u201d, noting a \u201csignificant capital injection from Altiva will build on the strong fundamentals of the business\u201d.<\/p>\n

He said the deal represented a \u201cgreat vote of confidence from an international investor in this indigenous industry and a fantastic Irish brand\u201d amid a challenging period for distilleries here.<\/p>\n

The business was put up for sale in July 2025, with documents relating to the sale seen by The Irish Times valuing the stock of whiskey at just under \u20ac35 million<\/a>. This valuation included 25-year-old stock purchased from the Cooley Distillery, which remains unsold.<\/p>\n

No value was placed on the overall business in the documents circulated, and the receiver outlined a desire to achieve a full asset sale of the business.<\/p>\n

Mr Degnan was appointed as receiver on June 26th by the company\u2019s sole secured creditor, PNC Financial Services UK Ltd, which was owed \u20ac21.5 million at the end of June.<\/p>\n

Minority shareholders later sought to appoint an examiner in place of the receiver, with Joseph Walsh of JW Walsh accountants appointed on an interim basis. This motion was withdrawn in advance of the hearing, which had been set for July 17th, and the company re-entered receivership.<\/p>\n

The whiskey maker saw \u201cconsistent revenue growth\u201d with sales peaking at \u20ac5.3 million in 2023 before dropping to \u20ac3.9 million in 2024, \u201cdue to challenging international market conditions\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"Powerscourt Distillery is to be sold to Altiva Management for an undisclosed sum after a deal was agreed…\n","protected":false},"author":2,"featured_media":299301,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[79,18,19,91769,17,131028,131029],"class_list":{"0":"post-299300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-interpath-advisory","12":"tag-ireland","13":"tag-powerscourt-distillery","14":"tag-powerscourt-estate"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115944008145827215","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/299300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=299300"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/299300\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/299301"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=299300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=299300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=299300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}