Business Irish

Friday 26 April 2019

Low-key businessman strikes Davy Byrnes deal

Stock picture
Stock picture

Fearghal O'Connor

Landmark Dublin pub Davy Byrnes is set to be bought for close to €4.5m by a customer who "fell in love" with the historic establishment, according to sources.

Irish businessman Bill Dempsey - who has no previous involvement in the pub trade - is understood to have agreed terms with the Doran family to buy the Duke Street hostelry.

The pub has for many years been owned by the three Doran brothers - all now in their 70s - and its sale was described as "the end of an era" by trade sources.

Terms have also been agreed with a separate party on a second iconic pub - The Old Stand on Exchequer Street, also owned by the Doran family, according to sources.

Publican Eamonn O'Malley - who owns Fagans in Drumcondra and other north Dublin pubs - has been linked with that deal and there is speculation that the price agreed is close to €3m.

The sale of both pubs - by way of share deals rather than traditional property sales - is being handled by auctioneer John Younge.

Dempsey is understood to have been a customer of Davy Byrnes over many years and popular with staff. His interest in the pub, which featured in Joyce's Ulysses, was piqued by its many historical and literary connections and its iconic status, it is understood. He is understood to be keen to maintain the character of the pub as it is, according to sources.

Dempsey has previously been involved in the medical device industry and is currently working on projects in the sporting sector in Ireland and the US.

Sunday Indo Business

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