Quintessential Brands Ireland has acquired a one third stake in Clanconnel Brewing Company, as part of what it calls a strategic investment aimed at developing McGrath’s Premium Irish Ales into one of Ireland’s leading craft beer brands.
The news follows hot on the heels of Quintessential Brands Ireland’s €10 million acquisition and investment in the Dublin Whiskey Company.
Based in Lurgan, Co. Armagh, Clanconnel Brewing Company currently brews six ales under the McGrath’s brand, which is sold across Ireland, as well as in the UK and various regions in Europe.
It is currently jointly owned by founder and Master Brewer, Mark Pearson and design agency Drinksology’s Richard Ryan and Steven Pattison, who developed the creative behind the McGrath’s brand.
Under the joint venture each party will have a one third stake in the company, and Drinksology will continue to distribute the brand in Northern and the Republic of Ireland.
Meanwhile, Quintessential Brands will now assume responsibility for managing the international sales, marketing and distribution of McGrath’s, using its extensive global sales team to develop new channels.
Quintessential Brands’ CEO Warren Scott commented, "This new joint venture with Clanconnel Brewing Company is an exciting development for Quintessential Brands Ireland.
"Craft beers are increasingly posing a challenge to the established brands and we are delighted to be in a position to provide the perfect platform to bring the handcrafted McGrath’s Premium Irish Ales to a wider audience."
Mark Pearson, founder of Clanconnel Brewing Company added, "We’re really excited to embark on this new partnership with Quintessential Brands Ireland.
"The move will allow McGrath’s Premium Irish Ales to use Quintessential Brands’ marketing expertise and international channels and build a successful, sustainable premium Irish craft beer brand."
© 2016 - Checkout Magazine by Jenny Whelan.