The Irish whiskey business is long and distinguished. Their father stayed in the game after Cooley too John now operates the biggest industrial producer in the country, supplying unbranded stocks to other companies. Read the leading stories from the world of business.Įnter email address This field is required Sign Up Of the 28 new distilleries in the works, Jack estimates that half will actually make it into production."Looking back at the projects that were all being announced when we got started in 2013, a lot of them were not completed… I'm not sure how a lot of guys are going to scale. He and brother Stephen are the founders of the eponymous Teeling Whiskey Company - the success story that many of the other distilleries in the works today seek to emulate. You still have three companies producing most of the product." "But this sudden perception that Ireland has a very successful whiskey industry? It is a fallacy. "The activity and support for the sector is very encouraging," he says. Trials will begin at the end of November, a year after he bought the site. Ireland has the finest barley in the world, Reynier says. It will produce small-batch whiskeys brewed from barley that can be traced back to individual farms. He is turning it into a whiskey distillery. Last year he made the move to Ireland, buying the old Guinness brewery in Waterford. Reynier is the former chief executive of Bruichladdich, which was bought by Remy Cointreau for £58m in 2012. Scotland's industry is the envy of the world, far outselling its Irish neighbour. Reynier is one of Scotch whisky's most successful exports. "I can understand the cheerleading - but we need to be more realistic." This whiskey won't be soaked up by Ireland," says Mark Reynier. "It is an easy business to romanticise - old product, old methods, old buildings - but the reality is that you are dealing with high entry level costs, a difficult route to market, cash flow challenges, and not enough domestic demand. Insiders warn the road is rockier than it seems. Exports sales will double by 2020 and double again by 2030, the organisation predicts. "The potential is massive when we compare Ireland to Scotland, with over 130 Scottish distilleries in operation, bringing investment and employment into rural areas," says Irish Whiskey Association chief executive Miriam Mooney. Are whiskey start-ups Ireland's newest bubble? The Irish Whiskey Association doesn't think so. Ten years ago the country had no craft industry to speak of now there are 28 new distilleries under way.įorget house prices or Bitcoin. Whiskey distilleries are popping up around the country like mushrooms after rain.
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