Current Chief Executive Of Dublin-Based Alcohol Brand Business Mark Anthony Brands International To Leave Company
Published on Aug 31 2021 12:00 PM in Drinks tagged: Trending Posts / Mark Anthony Brands International / Glendalough Irish Whiskey Limited / White Claw Hard Seltzer / White Claw / Glendalough Irish Whiskey / Nephin Whiskey
The Sunday Independent has learned that current chief executive of Dublin-based Canadian-owned alcohol brand business Mark Anthony Brands International David Nugent is to leave the company.
Filings made with the Companies Registration Office have reportedly revealed that Nugent, who headed up the Irish arm of the business that developed hard seltzer White Claw, resigned from a director position at Mark Anthony Brands International this month.
The filings reportedly also show that Nugent resigned from a director position at alcohol spirits company Glendalough Irish Whiskey, which Mark Anthony Brands purchased in 2019.
It is reportedly understood that Nugent, who worked at the company for approximately seven years, resigned from Mark Anthony Brands at the start of the summer, and that he has agreed to stay on until the end of the year as the company seeks a replacement.
Former Director Of Nephin Whiskey Takes Case Against Company
In other Ireland-based drinks company news, a former director of Nephin Whiskey, Mark Quick, has taken a case against the company in the Workplace Relations Commission (WRC).
Quick reportedly told The Business Post that he is making a claim of unfair dismissal, but declined to comment any further on the matter.
Paul Davis, who is a director and co-founder of Nephin Whiskey along with his wife, Jude, reportedly said that the company will be defending itself fully in the WRC case.
Quick, who left the business in February, has reportedly also filed legal proceedings against the Davises in the High Court claiming shareholder oppression.
Amid the row, two directors of the company, Joe Queenan, who is the managing director of Foxford Woollen Mills in Mayo, and Michael Walsh of clothing company Dubarry Ireland, have reportedly also stepped down.
The most recently filed accounts show for Nephin Whiskey reportedly show that the company is expecting to land €3.5 million in fresh funding by November of this year, and that it has been approved for €1.5 million through the Immigrant Investor Programme, with €500,000 of that sum reportedly already being in its solicitors’ client account.
The accounts reportedly also state that the directors are "in advanced discussions with private investors to raise a further €2 million", but do not state who the prospective investors are.
To date, Nephin Whiskey has reportedly raised €4.5 million in equity funding and €1.5 million in loans for the establishment of a distillery in Mayo.
Group Of Nephin Whiskey Shareholders Write To ODCE Regarding Concerns
In other Nephin Whiskey news, as reported by The Irish Independent, a group of shareholders in Nephin Whiskey has written to the Office of Director of Corporate Enforcement (ODCE) regarding its concerns about the company.
Correspondence sent anonymously to The Sunday Independent anonymously reportedly revealed that the group of shareholders wrote to the ODCE in late Augut, and reportedly sent a list of queries that were of concern to it, with the group reportedly claiming that it failed to receive a response.
A member of the group of shareholders, Michael Walsh, reportedly said that it wrote to the ODCE after the failure of the Davises to respond to its list of concerns.
© 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.