Brewery And Pub Owner The Brú Group To Merge With Galway Bay Brewery
Brewery and pub owner The Brú Group will merge with Galway Bay Brewery and be rebranded under the Galway Bay name. As reported by The Business Post, it is aiming to increase the number of venues in...
Brewery and pub owner The Brú Group will merge with Galway Bay Brewery and be rebranded under the Galway Bay name.
As reported by The Business Post, it is aiming to increase the number of venues in its portfolio to 25 over the next three years.
At present, The Brú Group reportedly owns five bars in Dublin a brewery in Meath, and Galway Bay Brewery reportedly owns 11 bars in Dublin, Galway and Belfast.
Brú reportedly recently acquired the former Thomas Read's and Oak bars on Dame Street in Dublin for €6 million, and the enlarged group is reportedly planning to acquire three more bars in the capital this year.
Galway Bay's brewing operation is located in Oranmore on the outskirts of Galway city, and its bars include the Black Sheep on Capel Street in Dublin and Oslo in Galway. Both breweries will reportedly continue to operate independently of each other.
Brú director James Dunne reportedly told The Business Post, "For a craft brewery, the best route to market is to control the taps and sell directly to the consumer instead of trying to get taps in pubs. That's our business model."
Upgrades And Urban Centre Acquisitions
A capital investment plan has reportedly been put in place to upgrade the bars to a higher standard, with Irish-Swedish design group M&E reportedly set to work on the project.
The old Thomas Read's, which was more recently called the Ivy and run by hospitality operator Alan Clancy, will reportedly reopen as The Beer Temple in early November, and The Oak will reportedly continue to trade under its current name. Eleven apartments above the bar will be reportedly refurbished and let to residential tenants.
The new group is reportedly targeting acquisitions in urban centres, and will reportedly look at overseas cities such as Barcelona or Amsterdam.
Galway Bay Brewery co-founder Jason O'Connell will reportedly be the overall chief executive of the new larger operation, while Dunne, who is reportedly a former chemist, will reportedly be brewery director. Collectively, there will reportedly be 250 employees across the two merged businesses.
The group will reportedly be chaired by Dunne's brother, entrepreneur Ed Dunne, and Frank Byrne is reportedly chief financial officer. It is reportedly backed by Olympia Capital, which is reportedly buying the buildings to lease to the bar venues.
O'Connell And Dunne Statements
O'Connell and Dunne reportedly said that their businesses coped during the COVID-19 pandemic thanks to the increased demand in the off-trade.
Dunne reportedly said, "We would hope that people who drank a different product over lockdown might stick with it when they go back to pubs and restaurants."
O'Connell reportedly said that the craft beer market had grown during the pandemic, with an up-spend in quality from those who could afford it, and, "Craft beer has come out of this quite well."
O'Connell reportedly said that exports increased from 11% to 20% during that period, and with the new merger the target is to increase that by a further 30%, and, "That would take us up to producing 1.5 million litres a year."
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