Craft beer producer Wicklow Wolf has secured a €2 million investment that will enable it to open a larger brewing site and significantly increase production. The brewery also expects to take on 20 additional staff as it seeks to expand into overseas markets.
HBAN (Halo Business Angel Network), a joint initiative between InterTradeIreland and Enterprise Ireland, was among the backers through its food syndicate, whose members include Jelly Bean Factory co-founder Richard Cullen and The Company of Food managing director Helen Cowzer.
The syndicate, chaired by Stephen Twaddell, formerly the head of Kellogg's Europe and now chairman of Wicklow Wolf, contributed €722,000 to the funding deal. It is the syndicate's second investment in the craft beer producer in just 18 months.
16 beers
Founded by
Quincey Fennelly
and
Simon Lynch
, Wicklow Wolf started brewing in August 2014 and sold its first beer one month later. The business, which has produced more than 16 varieties of beer to date, supplies to 150 pubs and 550 off-licenses across Ireland.
"We feel that now we are well-positioned to bring Wicklow Wolf to the next level and the investment will be crucial to that," said Mr Fennelly.
“It’s not just about funding – the angel investors from the Food Syndicate have years of experience in the food and beverages industry. They’ll have a big role to play when we expand overseas, helping us to avoid the mistakes and pitfalls that others before us have fallen into. Their knowledge and experience in manufacturing, distribution and international marketing will be of enormous value to the future of our business,” he added.
