Tennessee Distilling, a major U.S. contract whiskey producer, is in exclusive talks to buy the collapsed Irish distillery Waterford Whisky for about €6 million.
The deal, which was revealed by the Times, would include the Waterford facility, its intellectual property, and bottled stock, but not the large reserves of maturing whiskey.
Waterford Whisky entered receivership in November last year after financial difficulties linked to a global whiskey surplus.
Founded by former Tennessee state legislator Mike Williams, Tennessee Distilling operates an 800,000 sq ft facility producing Tennessee whiskey, bourbon, rye, and other spirits for clients worldwide. Williams co-founded the company in 2014.
If completed, the deal would see the U.S. group reopen and invest in the Waterford site. The receivers will retain about seven million litres of maturing spirit—some nearly a decade old—which will likely be sold off in stages.
Previous rescue bids, including those from an Irish investor consortium and an Indian entrepreneur, collapsed amid broader industry turmoil that has also affected major players such as Irish Distillers, Bushmills, and Powerscourt.
Waterford Whisky was established on the former Diageo brewery site and became one of the first Irish distilleries to fail during the recent global oversupply.
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