Ireland’s Powerscourt Distillery has been acquired by US-based private-equity group Altiva Management, six months after the whiskey producer went into receivership.
The company, which is based on the Powerscourt Estate in Co Wicklow and owns the Fercullen brand, announced the move late yesterday (22 January). In July last year, Interpath Advisory was appointed as its receiver against the backdrop of what Powerscourt described as “cashflow difficulties and a disruption to trade amidst global tariff volatility”.
Distillation has continued in the meantime, with staff and management being informed of the latest news this week.
Altiva, which operates out of Nevada, has spent an undisclosed sum on the business. Included in the purchase are all of eight-year-old Powerscourt’s assets except for stores of bulk whiskey purchased from domestic peer Cooley Distillery “a number of years ago”.
The private-investment company has also pledged to “inject substantial capital investment” in what Powerscourt called “a landmark transaction”.
“This is a great day for Powerscourt Distillery, having secured a strong and supportive new ownership structure,” said CEO Roger Duggan. “With the backing of Altiva, we are well positioned to build on our exceptional brand reputation with our premium product, Fercullen Irish Whiskey.
“I want to thank Altiva for their commitment and sharing the passion we have for this business. Our customers, suppliers and staff have also been a tremendous support since we ventured on this journey and we’re proud to have retained our place among the leading whiskey brands around the world.
“Thanks also to [appointed receiver] Mark Degnan from Interpath for his exceptional guidance throughout this entire process.”
In late 2024, Interpath was appointed to oversee the receivership of Waterford Distillery, also in Ireland, following reported debts in the region of EUR70m (then US$73.6m).
