US Distillers Brown Forman, the company behind Jack Daniel’s, has announced a €44m investment in Slane Castle Irish Whiskey.

The deal is expected to create up to 25 permanent jobs and a new distillery will be built on the historic Slane Castle Estate in Co. Meath.

Brown-Forman has purchased all shares of Slane Castle Irish Whiskey Limited, the company was originally launched by the Conyngham family in 1999.

Lord Henry welcomed todays news, saying "the [Conyngham] family will remain at the core of the business into the foreseeable future. This is a very long-term partnership and I am incredibly excited."

He continues: "Brown Forman was absolutely the people we wanted to partner with because of their vast experience in the whiskey business. It is a publicly quoted company and a member of the Brown family is still chairman of the board."

"Irish whiskey has been one of the fastest growing segments in the global whiskey category over the last few years,” said Lawson Whiting, executive vice president and chief brands & strategy officer for Brown-Forman, “and we’re excited to be partnering with the Conyngham family as we build the new Slane Irish Whiskey Distillery and introduce new Irish whiskeys to the world."

The distillery is set to open in late 2016, and new Irish whiskeys are due to be introduced in spring of 2017.

Lord Henry Mountcharles has reassured Irish music fans that summer concerts will continue to be held on the grounds.