The Killarney Brewing and Distilling campus in Co Kerry
A multi-million euro bid has been submitted for Killarney Brewing and Distilling’s flagship campus after the Irish drinks producer became insolvent earlier this year, the Sunday Independent understands.
Multiple sources told the Sunday Independent that a €4.8m offer was made for Killarney Brewing and Distilling’s (KBD) Fossa, Co Kerry, alcohol-production campus in recent weeks.
KBD is in liquidation and receivership. Michael O’Regan and Declan McDonald from PwC Ireland were appointed as receivers in late July and are primarily focused on selling the Fossa brewery and distillery campus.
It is understood that agents Cushman & Wakefield, who are selling the site on behalf of the receivers, are seeking a guide price of around €5m.
KBD has described the 5,760 sq m facility as “the largest independent brewery, distillery, and visitor centre in Ireland” on its website.
The bid for the facility will spark local hopes that the prominent attraction and employer can be revived.
In April, James Anderson, a partner at Deloitte Ireland, was appointed as interim examiner to KBD when the company filed a petition with the High Court. It followed a potential merger with a US partner that fell through.
Entering examinership was seen as the most viable path to secure its future.
Ultimately, these efforts were unsuccessful. Anderson was subsequently appointed as liquidator.
With the examinership process failing to save the business, O’Regan and McDonald were appointed as receivers in late July. KBD’s sole secured creditor is lender Bailmo Limited, due over €3m.
The receivers have looked to sell KBD’s Fossa campus. They declined to comment on the bid.