Irish craft beer producer Rye River Brewing has revealed that it is planning to raise €2.5 million in new funding in 2019 for the purpose of expanding the brewing and bottling capacity of its plant in Celbridge, Co. Kildare.
Rye River Brewing managing director Tom Cronin said that the company will likely look to raise the money from a non-bank lender, and that it is hoping to expand its capacity by a third to approximately 40 hectolitres per year.
The planned expansion in capacity is intended to increase the company's export capability.
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Cronin told The Irish Times, "Craft beer is capital intensive. Our next stage of development is to finance a new brewhouse because we are brewing around the clock at present. We’ll go down the route later this year of financing hopefully a new brewhouse and a new bottling line to allow our growth to continue."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.