The Receiver of Powerscourt Distillery, the Wicklow-based and world-renowned home of multi-award winning Fercullen Whiskey, has entered an agreement for the sale of part of its assets to Altiva Management Inc (Altiva) in a transaction that provides a significant injection of fresh capital and sees the future of the business secured.
The transaction, which is expected to complete in the coming weeks, includes the sale of a large volume of bulk Whiskey which was produced in Powerscourt Distillery along with all brands, intellectual property and a transfer of the leasehold interest in the operating distillery and visitor centre. The Receiver will now seek to sell the remaining bulk Whiskey, which includes Whiskey acquired from Cooley Distillery a number of years ago.
Powerscourt Distillery is a 20,000 sq ft, 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.
Mark Degnan, Managing Director at international advisory firm Interpath, was appointed Receiver to the business on 26 June 2025 after it suffered cashflow difficulties and a disruption to trade amidst global tariff volatility.
Since the appointment, the Company has remained open and has continued to trade while the Receiver has conducted a restructuring and competitive process to market the business. This process will be concluded successfully through the sale of the business and assets of Powerscourt Distillery to Altiva with the deal expected to close in the coming weeks. Once completed, the business will continue to operate under the existing brand and as part of the transaction, all current members of staff are expected to transfer to the buyer. Staff and management were informed of the news at a meeting held yesterday afternoon (Thursday).
This represents a landmark transaction for the Irish whiskey sector with new international investment, ensuring a secured future for the business. Altiva has committed to injecting substantial capital investment into Powerscourt Distillery that will support the strategic growth plans and operational stability of the business. The investment will further enhance the brand and visitor experience along with maximising opportunities in existing and emerging markets.
Roger Duggan, CEO of Powerscourt Distillery, said: “This is a great day for Powerscourt Distillery having secured a strong and supportive new ownership structure. It marks the beginning of an exciting new chapter for our business. With the backing of Altiva, we are well-positioned to build on our exceptional brand reputation with our premium product, Fercullen Irish Whiskey, that is loved by our customers across the world. This gives us the opportunity to invest in that brand along, with the visitor experience at our excellent facility in Wicklow. I want to thank Altiva for their commitment and sharing the passion we have for this business. Our customers, suppliers and staff have also been a tremendous support since we ventured on this journey and we’re proud to have retained our place among the leading whiskey brands around the world. Thanks also to Mark Degnan from Interpath for his exceptional guidance throughout this entire process.”
Adam Morgan, Director of Altiva Management Inc said: “We see tremendous potential in Powerscourt Distillery and are committed to supporting its talented team as they look to grow and thrive over the coming years. Our focus will be on strengthening the market position of the business, growing its brand and investing in innovation to ensure sustainable success. We appreciate the craftmanship and time it takes to produce quality whiskey such as Fercullen and are looking forward to supporting Powerscourt Distillery on the exciting journey ahead.”
Mark Degnan, Managing Director at Interpath, said: “I’m delighted this transaction has been successfully completed with a great outcome for both parties. This significant capital injection from Altiva will build on the strong fundamentals of the business. It is also a great vote of confidence from an international investor in this indigenous industry and a fantastic Irish brand. The sector has been facing some challenging trading periods in recent times but there are opportunities that exist when strong brands and talented teams are matched with the right funding partner and structure.”
