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'Beam' them up, Cooley
03.01.12
by Eamonn Mac Dermott, Inishowen Independent
BUNCRANA businessman Willie McCarter, one of the
founder members of Cooley Distillery which makes
Tyrconnell and Inishowen whiskey, has welcomed the
news that the firm has been bought by American
drinks giant, Beam.
Speaking after the deal was announced the former
Fruit of the Loom supremo said: “While no one can
predict the future I think this is good news for
everyone that works in the distillery.
“Beam is the fourth largest company of its kind in
the world and the second largest in the US so they
want to build the brand of Irish whiskey.”
The deal, which is though to be worth in the region
of $95 million, was announced before Christmas. |
Mr McCarter added: “One
of the facts that many people are unaware of is that
you cannot make Irish whiskey anywhere else but on
the island of Ireland so these jobs cannot be
relocated.
“Irish whiskey has been a growing industry for quite
some time now and recent events have shown that
companies see that potential.
“Pernod Ricard paid £100 million for Irish
Distillers and the Jameson brand and they have been
promoting it as have other companies and that
marketing and promotion is paying off. |
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Willie McCarter |
“John Teeling and
myself also promoted the Cooley brand and the
whiskeys distilled there and we are seeing the
results of that now.”
He continued: “The reason for the growth in
popularity for Irish whiskey comes down to many
factors but primarily the product itself.
“Irish whiskey tastes very different from other
spirits - it has a very smooth, sweet taste which is
growing in popularity among young people in the US,
Russia, Scandinavia and other parts of the world.
“It has been popular for a long time and that
popularity will grow well into the future.”
Willie McCarter and John Teeling started Cooley
Distillery in the 1970s.
He recalled: “I was in Massachusetts Institute doing
my Masters and John Teeling was at Harvard doing his
doctorate.
“We had met through a mutual acquaintance in Dublin
and we used to drink in a bar in Cambridge called
‘The Plough and Stars’ owned by an Irish man Peter
O’Malley.
“We used to sit and talk about things like Irish
whiskey and that was how Cooley came about.
“Today there is a plaque in the bar marking it as
the birthplace of Cooley Distillery.”
Willie McCarter laughed at some of the speculation
as to what the deal with Beam would be worth to him
personally.
He said: “Let’s put it like this: there are a lot of
taxes to be paid and a lot of holes to fill so who
knows what it will be like at the end.”
While Irish whiskey continues to grow in popularity
it still has room for major growth.
Scotch whisky produces some 90 million cases a year,
Bourbon 30 million cases, Canadian whisky 20 million
and Irish whiskey just 5.5 million cases. |
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