December 1, 2014 – With the growth in Irish Whiskey sales worldwide, more entrepreneurs are looking at opportunities in the fastest-growing sector of the whisky market. Former Bruichladdich managing director Mark Reynier is the latest, and has reached an agreement to buy Diageo’s Guinness brewery in Waterford, Ireland with plans to convert it into a whiskey distillery. No purchase price was announced.
Reynier has reunited with his former Bruichladdich backers Sir John Mactaggart and John Adams to form Renegade Spirits Ltd. with a group of private investors from the UK and Ireland. Mactaggart was Bruichladdich’s chairman, while Adams served as finance director during the rebirth of Bruichladdich from 2001 until the distillery was sold to Rémy Cointreau in 2012 for $90 million USD.
The company will begin renovation of the brewery in 2015, with plans to begin distilling in 2016. Diageo closed the Waterford brewery last year after consolidating Guinness production at the main St. James Gate brewery in Dublin. There have been breweries on the Waterford site since 1792, and the current facility opened in 2004.
This story will be updated as more details are available.