DLA Piper advises Altiva Management on its agreement to purchase the world-renowned Powerscourt Distillery

DLA Piper has advised Altiva Management Inc. on the entry into an acquisition agreement to purchase the famous Powerscourt Distillery business in Wicklow, Ireland, from its Receiver, Mark Degnan, of Interpath. The Powerscourt Distillery produces multi-award-winning Fercullen Whiskey and the transaction, once completed, will result in a large volume of bulk whiskey (which was produced in Powerscourt Distillery) along with all brands and intellectual property, which together comprise a majority of the business' assets, transferring to Altiva Management.

The Powerscourt Distillery is a 20,000-square-foot, state-of-the-art whiskey distillery and visitor centre, located in the Old Mill House on the Powerscourt Estate in County Wicklow. Distilling since 2018, Powerscourt has released a range of both sourced and self-distilled whiskeys under the Fercullen brand, and operates in multiple markets across Europe, North America, Asia and Africa.

This transaction is a landmark for Ireland's whiskey sector, with Altiva Management expected to deploy substantial capital investment into Powerscourt Distillery to support strategic growth plans and consolidate the business’s operational stability. New funding is also expected to enhance the brand and visitor experience and target opportunities in existing and emerging markets.

A cross-border and multidisciplinary team from DLA Piper's Dublin and New York offices worked on the transaction, led by David Carthy, Country Managing Partner, Ireland, Andrew Gilbert, partner and US Chair, Corporate, and Dara McDonald (senior associate, Corporate). The team also comprised of partners Graham Quinn (Real Estate) and legal director Greg Cooney (Finance).

David Carthy said: “This transaction marks a significant milestone for both Powerscourt Distillery and the Irish drinks sector more broadly. Securing the future of a storied producer like Powerscourt is testament to the strength and resilience of the Irish whiskey industry. This investment sends a powerful vote of confidence in the long-term potential of Irish whiskey and the vibrancy of the sector.”