Dublin whiskey brand brings in over €430,000 as it plans to enter European markets.
In 2017, Mr. Rossi brought the company back to life with support from notable figures such as businessman Greg Sparks and Dawn Farm Foods CEO Larry Murrin. Initially, the company aimed to raise €175,000 through a crowdfunding campaign on Crowdcube, with a pre-money valuation of over €6.49 million.
According to the company’s pitch on Crowdcube, DWD is on a mission to revive and modernize The Dublin Whiskey Distillery, originally founded over 150 years ago, to appeal to today’s whiskey drinkers. The company also plans to re-establish the DWD brand in key European markets.
The pitch mentioned that a recent soft launch of the whiskey led to sales of 18,000 bottles. Besides Ireland, the whiskey is already being sold in Germany and the Baltic countries.
DWD stated that 44% of the raised funds would go toward product development, 18% for promotion, and 14% for overhead costs, with the remaining funds kept as cash in the bank.
The crowdfunding campaign on Crowdcube has now concluded, according to the platform’s website.
The original Dublin Whiskey Distillery was founded in 1872, producing whiskey at the Jones Road distillery in Dublin, and became one of the most recognized brands in the country. DWD was one of the “six great” Dublin distilleries. However, the distillery closed in the 1940s, although DWD-branded mirrors can still be found in many Dublin pubs.
Mr. Rossi, who previously worked at alcohol giant Diageo, founded the Dublin Whiskey Distillery Company Limited in 2014 before reviving the brand. His efforts attracted investors with deep experience in the food and beverage industry.
In 2016, former DAA and Aryzta CEO Kevin Toland supported the company, reportedly investing €150,000, as noted in the Irish Independent. That same year, Greg Sparks, a founding partner of RSM Farrell Grant Sparks, which later merged with Grant Thornton, invested €100,000. Several of his family members also received stakes in DWD for an additional €100,000.
Last modified: August 27, 2024
