The Mercantile Hotel on Dublin's Dame Street has been sold to the Waters brothers, The Sunday Business Post reported.
Eamon and Noel Waters, who are directors and shareholders of the successful Panda Waste and Recycling, are believed to have paid approximately €6.4 million to private equity firm Lone Star for loans attached to the bar and hotel.
The building on Dame Street hosts a hotel and a bar, which also serves food, and is also a popular music venue.
Frank Gleeson bought the Mercantile in 2009 and it continues to draw crowds and big name music acts. The business will be leased back to Gleeson for approximately €640,000 per annum.
Gleeson is the managing director of The Mercantile Group which owns several bars and restaurants throughout Dublin, including Whelan's on Wexford Street and Pichet on Trinity Street.
