The craft brewers are planning a 15-fold increase in production...
Irish craft brewing company Wicklow Wolf has secured a major €2m investment which will help it to create 20 new jobs in the coming years.
The investment will fund a new larger brewing site in Wicklow - enabling a 15-fold increase in production.
This cash injection includes €722,000 from the HBAN Food Syndicate, which will help the company to expand into international markets including the US, Asia and Europe. This is its second investment in Wicklow Wolf this year and brings its total investment to over €800,000 in 18 months.
The all-island organisation responsible for the promotion of business angel investment and a joint initiative of InterTradeIreland and Enterprise Ireland - it leads the investment with Enterprise Ireland and a number of private investors.
These investors are offering both cash and experience, business acumen, channels to market and an international portfolio of business contacts as the firm eyes export growth.
Speaking about today’s announcement, Quincey Fennelly, CEO at Wicklow Wolf Brewing Company, said: “Wicklow Wolf started off small, selling to local pubs and off-licenses. We wanted to make sure we had a solid base at home before we even thought about selling abroad.
"As soon as we started brewing, the local support we received from the people in Wicklow was unbelievable and it continues to be just as strong. We feel that now we are well-positioned to bring Wicklow Wolf to the next level and the investment will be crucial to that."
He adds the the company is ready to go to the next level:
"It’s not just about funding; the angel investors from the Food Syndicate have years of experience in the food and beverages industry. They’ll have a big role to play when we expand overseas, helping us to avoid the mistakes and pitfalls that others before us have fallen into. Their knowledge and experience in manufacturing, distribution and international marketing will be of enormous value to the future of our business."
Wicklow Wolf currently supplies 150 pubs and 550 off-licenses across the island of Ireland.