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Italian wine and spirits company Illva Saronno Holdings SpA has announced a significant investment in the Irish whiskey market, through a partnership with the family-owned Walsh Whiskey Distillery.
Producer of The Irishman and Writerṣ Tears super-premium and ultra-premium brands, the distillery is based in County Carlow and was founded in 1999 by husband and wife, Bernard and Rosemary Walsh. Illva Saronno said it has enjoyed a +300% increase in revenues in the last five years.
Illva Saronno’s investment will help Walsh Whiskey Distillery embark on a €25 million expansion programme, which includes the building of an independent craft Irish whiskey distillery with capacity for 400,000 cases annually and an increase in the distribution network from 30 to over 100 countries, including India and China.
The project will also see warehouse capacity increase to 1.9 million nine-litre cases, a build-up of aged whiskey stock and the creation of a visitor experience.
Illva Saronno’s history goes back to the 17th century and the company behind the Disaronno and Tia Maria brands currently distributes into over 160 countries worldwide. It also has a significant interest in China’s largest winery, Changyu, and a growing foothold in India, the world’s largest whiskey market.
“With this investment, not only will Illva gain production capacity and expertise in a fast growing sector such as that of Irish whiskey – which is already showing remarkable growth rates and is expected to grow up to 12 million cases within the next five years,” said Illva Saronno CEO Augusto Reina. “It will also enable Walsh Whiskey Distillery to lean on Illva as a leading business developer both in Italy and abroad.”
Walsh Whiskey Distillery has a portfolio of six premium Irish whiskies under The Irishman and Writerṣ Tears brands, as well as the Hot Irishman Irish coffee and the Irishman Irish Cream liqueur.
It currently distributes into 30 countries, with 95% of sales generated by exports. 70% of sales currently come from five key markets: USA, Russia, Scandinavia, France and Germany. With the new investment, it plans to expand into major Asian markets, including India and China.
Founder Bernard Walsh said: “We are especially pleased to have attracted a partner like Illva Saronno that, in addition to its global reach and long term vision, shares a similar style and core values that come from being a family-run company.
“Their experience, traditions and expertise, which comes with having a 500 year old liqueur like Disaronno in their portfolio, will be fantastic assets as we set about becoming recognised as one of the leading distillers of premium, craft, Irish whiskey in the world.”
