Carlow Brewing Company Raises Over €1m From Investors
O'Hara's craft beer producer Carlow Brewing Company has raised over €1 million from Spanish brewery Hijos de Rivera and Enterprise Ireland to develop a new canning and bottling line and make other improvements that to boost its production capacity.
As reported by The Business Post, Hijos de Rivera previously invested €2.7 million Carlow Brewing Company and owns a 32% stake in the business. Its latest €500,000 investment reportedly does not alter its shareholding.
"Reasonably Big Capital Investment"
Speaking to The Business Post, Carlow Brewing Company co-owner Seamus O'Hara reportedly said, "We're doing a reasonably big capital investment in a new canning and bottling line and other investments to boost our capacity.
"The big capital investment plan predates the pandemic and we're happy to proceed with that plan given the underlying trends in the business. We've seen a big upswing in craft beer demand over the last year or so."
On-Trade Vs Off-Trade
O'Hara reportedly said, "On-trade was closed down left, right and centre, but off-trade kicked in everywhere and there was a reasonable upswing in sales in off-trade in both domestic and export markets. The craft and speciality beers sort of appear to be outperforming the beer market generally in the retail setting.
"I don't know exactly the reason why, but it seems people had a bit more time and space to browse the menu and think about what they’re going to drink versus the hustle and bustle in the pub where they just order their regular."
Dublin Production Facility And Visitor Centre
Earlier this year, An Bord Pleanála rejected an appeal by Carlow Brewing Company against a decision by Dún Laoghaire-Rathdown County Council to refuse the company planning permission to develop a new production facility and visitor centre in Dublin's Sandyford Business Park, however, O'Hara reportedly told The Business Post, "It wasn't the top priority over last year, but we’re still working away on that. We just need to reinvent the plans a bit. The initial plans were turned down, but we think we just need to tweak our plans.
"When you go through the process, you identify the bits that are not workable or not acceptable. We still think it leaves us with lots of scope to do a similar project to what we wanted to do, but a little different."
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.