Done Deal: Powerscourt Distillery

Perfect Chemistry

PNC Business Credit Case Studies
Powerscourt Irish Whiskey Distillery

Situated on the world famous Powerscourt Estate in County Wicklow, Republic of Ireland, the Powerscourt Distillery (Powerscourt) started distilling in 2018. Putting the visitor as the focal point of a first-class fully immersive experience, Powerscourt is not only the ideal place to inspire a new generation in whiskey craftsmanship, but also the perfect setting in which to appreciate its Fercullen brand of Malt, Grain and Blended Irish whiskeys.

Need:

Building and maturating a premium whiskey is not a short-term project. It takes time, dedication, experience, knowledge and capital. Five years into its journey, and with a strong brand already making headlines, Powerscourt required a finance facility that aligned to its long-term growth plans.

Solution:

Irish whiskey is one of the fastest growing premium spirit categories in the world. But unlike the Scotch whisky industry, where Asset Based Lending (ABL) has become a staple financing solution to fund investment and growth, ABL is not currently widely adopted by Irish distillers. But this is changing as the Irish market continues to disrupt the international brand status quo. A distiller requires a finance provider that can align to the maturation time needed to create a premium product and therefore build a premium brand.

Results:

PNC utilised its extensive knowledge of both markets to deliver a compelling proposal based on its clear understanding of Powerscourt’s specific working capital demands and its desire to build a strong long-term relationship with the team.

Manufacturing
 

Powerscourt Distillery

€21,500,000

Revolver

Growth Capital

Financing Event: Growth
PNC Deal Leader: Alistair Hood

From the very first visit, we had a very clear understanding of PNC’s philosophy as a growth lender. The chemistry was there, and we had immediate access to the key decision makers. PNC has an instinctive understanding of what it is to be an independent distiller. Their proposal provided a compelling opportunity for us to work together to build a great Irish whiskey brand. This facility fuels our growth strategy perfectly.

- Roger Duggan | General Manager, Powerscourt Distillery