Tennessee Distilling Group has reportedly bought Waterford Distillery, 15 months after the Irish whiskey maker went into receivership.
The transaction, first reported by local news outlet Waterford News & Star, is said to include a former Diageo brewery owned by Waterford Distillery and the brand’s intellectual property. Tennessee Distilling Group told the publication it hopes to reopen the distillery in May, following a “pretty intense” cleaning after almost 18 months of inaction at the site.
The News & Star reported the value of the acquisition as EUR6m (US$6.9m).
In 2024, the Irish whiskey producer was forced to enter receivership with reported debts in the region of EUR70m (then-$73.6m). According to a report in The Times at the time, Waterford had not posted annual sales above EUR3m since coming into being in 2015.
Tennessee Distilling Group is a contract manufacturer and distillery owner that produces bourbon, whiskey, rye and malt whiskey. Global Drinks Intel has contacted both parties for further details.
Slowing consumer demand and oversupply have dogged the wider whisk(e)y industry in recent months. Over in Islay, which is visible from the coast of Ireland on a clear day, Suntory Global Spirits outlined a proposal to trim the workforce at its two distilleries last month, citing the need to “align production with long-term demand”.
