Dublin-based Teeling Whiskey has sold a minority stake from its business to Barcardi, the family-owned maker of white rum, and one of the largest players in the global spirits market.
The Irish business will continue to be run by its existing owners and management team, and will remain independent and autonomous from Bacardi. As part of the deal, Teeling’s range of Irish whiskies will be distributed in the US by Bacardi from September 1, this year. The US is the largest market for Irish whiskey with sales of more than 3.5 million litre cases in 2016. Teeling’s saw volumes jump 44 per cent last year to almost 31,000 cases.
Based in Newmarket, Dublin, Teeling is exported to more than 50 international markets. In Ireland, its whiskies are stocked in 800 bars and 1,700 outlets. Its distillery opened in June 2015 and is set to undergo a €500,000 expansion to accommodate extra production and to increase its visitor centre.
Teeling was set up in 2012 by Irish entrepreneur Jack Teeling and has been imported and distributed into the US for the past three years.