Craft brewers tap into €2m funding round
Published 29/10/2016 | 02:30
CRAFT brewer Wicklow Wolf is to expand thanks to €2m in funding.
The money, being provided by The Halo Business Angel Network (HBAN), Enterprise Ireland, and InterTradeIreland, will help the business open a new and larger brewery.
Wicklow Wolf is looking to expand domestically and also into the US, Asia, and Europe over the next five years. The new brewery will enable a 15-fold increase in production and will provide 20 new jobs.
Wicklow Wolf chief executive Quincey Fennelly said the firm wanted a solid base at home before it started 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 said.
He and co-founder Simon Lynch began brewing in August 2014 and sold their first beer a month later to Bray's Harbour Bar.
The move shows further confidence in the Irish craft brewing industry, which is tipped to reach €58m in turnover this year, up 48pc on 2015.