Porterhouse And Dingle Distillery Seek Funds For Expansion

By Dave Simpson
Porterhouse And Dingle Distillery Seek Funds For Expansion

The Porterhouse pub and craft brewing company and the related Dingle Distillery are hoping to raise up to €4 million between them under a State investment scheme to allow for expansion at their respective Dublin and Kerry locations.

The Irish Times reports that Dingle Distillery is seeking to raise €2 million under the Employment & Investment Incentive Scheme (EIIS) to expand production of its whiskey and gin to meet current customer demands.

Meanwhile, it is expected the Porterhouse group will launch an EIIS scheme of its own through its Coachbury Taverns company in the coming weeks, targeting between €1.5 million and €2 million to increase production of draught and bottled beer and create a new visitor centre at its Glasnevin brewery.

Marketing materials for both fundraising campaigns suggest a possible 20% return for investors following a four year lock-in period, but company directors emphasised that this figure is not a certainty.