Pernod Ricard subsidary Irish Distillers invests €150mn to expand whiskey production
Pernod Ricard subsidiary, Irish Distillers, plans to invest €150mn (US$173.8mn) to modernise and expand its facilities to meet the continued demand for Irish whiskey.
The maker of Jameson Irish whiskey said it will invest €130mn in Co. Cork, Ireland, to upgrade its distillery in Midleton and its maturation site in Dungourney.
Irish Distillers said it will invest in additional equipment and eight new maturation warehouses with a capacity of 16,800 casks each.
Additionally, it’s Midleton distillery will also be equipped with an energy recovery plant which will enable the distillery to boost its capacity.
The Irish whiskey maker said it will also install a third mash filter and new fermenters.
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The remaining €20mn will be invested in the Fox and Geese bottling plant in Dublin.
The funding will help to upgrade the main operating bottling hall, storage warehouses, laboratory and office spaces, as well as bottling and packaging equipment.
Conor McQuaid, Chairman and CEO said: "This €150 million investment in Midleton, Dungourney and Fox and Geese reflects the growing international success of Irish Distillers' whiskey portfolio.
“We look forward to building upon our success story and continuing to bring innovative Irish whiskeys to the market.
“Irish whiskey is the fastest growing premium spirit in the world, with sales now accounting for more than one-third of all Irish beverage exports. This investment will help to allow this growth to continue for years to come.
He added: "The company is proud to play its role in the Irish drinks industry, which is a hugely important part of the Irish economy."
Since 2012, Irish Distillers has invested around €400mn (US$463.6mn) to double production and bottling capacity to meet continued demand.