Pernod Ricard-owned Irish Distillers has acquired Cork-based Eight Degrees Brewing, a craft beer producer whose brands include Sunburnt Irish Red Ale.
It's the first ever brewer within the Pernod Ricard stable.
Details of the acquisition will be released this afternoon, it’s believed.
Founded in 2010 in Mitchelstown by Australian Cameron Wallace and New Zealander Scott Baigent, the company’s lines also include Howling Gale Pale Irish Ale.
Eight Degrees was backed by Enterprise Ireland, and its ordinary share capital remains entirely owned by its two founders.
Irish Distillers portfolio of brands includes Jameson, one of the world’s top-selling whiskies, as well as other drinks such as Powers and Cork Dry Gin.
Paris-headquartered Pernod Ricard owns top brands such as Malibu, Martell, Chivas Regal and Kahlua.