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Interpath Advisory has announced that joint receivers from the firm, Mark Degnan and Darryl McKenna, have entered a binding agreement to sell the core assets of Waterford Whisky to Tennessee Distilling Group.
The transaction includes the Waterford distillery, the brand portfolio and all associated intellectual property.
Interpath said the process is expected to reach completion within the coming weeks following the fulfillment of regulatory requirements, adding that it will continue to oversee the transition process until it is finalised.
Waterford Whisky has established a position in the Irish single malt category through its production approach centred on terroir and barley provenance.
Tennessee Distilling Group plans to invest in the distillery to strengthen operations and grow the local team. The group said it intends to use its technical capabilities and international reach to expand the brand into new global markets.
Interpath added that the investment is expected to support stability for the distillery and create new jobs in the region.
Managing director at Interpath, Mark Degnan, said: “I want to thank all parties who engaged in this process to secure the future of the distillery, and we’re pleased this transaction has been successfully agreed, delivering a positive outcome for the business and its stakeholders.
“This investment from Tennessee Distilling Group provides a clear platform for future growth and represents a strong commitment to both the Waterford brand, the local economy and the wider Irish whiskey sector.”
