We track the ones to watch: Jack Teeling
Published 25/11/2012 | 05:00
The Teeling family's more recent history in the whiskey business is well known, not least that bumper €73m pay day when Cooley sold early this year.
Jack Teeling, founder of the new Teeling Whiskey Co only discovered recently, that the family has a venerable distilling heritage that goes back to the 1782 when a Walter Teeling ran an Irish whiskey distillery in Dublin.
Jack, son of oil and gas entrepreneur and Cooley Distillery founder John Teeling worked in banking before starting at the family distillery in 2002 in sales and marketing, later becoming MD.
When Cooley sold to Beam, he managed the integration process before leaving to start his new venture in April last. He sees a gap in the market for a strong, medium-sized, Irish-owned independent whiskey player in a rapidly growing international market.
The newest product is Poitin, a premium high-strength product being bottled for market this month.
Next will be the flagship brand, the Teeling Whiskey.
For now things are funded with most of the €3m he netted from the Cooley sale, but there will be a need for bringing in other investment partners soon, to build stock. His father, who understands the business, is prepared to be involved.
The goal is to have sales of €5m to €10m within the next few years, with most early earnings to be reinvested.
Sunday Indo Business