German family-owned Warsteiner Group is taking a minority stake in Irish craft brewer Rye River Brewing Company. The "multi-million euro" investment is to be used for projects in 2023, which seamlessly follow the investment program of EUR 2.5 million for 2022, used in brewing, packaging and storage.
“The investment from Warsteiner will not only allow us to bring forward a number of capital projects but also gives us access to significant distribution channels and networks which will accelerate export growth,” Tom Cronin, Founder and Managing Director of Rye River said.
“The Rye River team is hugely excited about the opportunity of working with a business that shares the values that have underpinned our success to date. Warsteiner is an independent family business with a long tradition of brewing excellence and is a perfect fit to support Rye River Brewing Company in its next stage of development,” Cronin added.
As part of the deal, Helmut Hörz, CEO and Chairman of the Management Board of the Warsteiner Group, has been appointed as a non-executive director with Rye River.
“Our acquisition of a minority stake in the Rye River Brewing Company is in keeping with our shared long-term goals,” Hoerz said. “While only in its tenth year of business, Rye River Brewing Company has already built a world-class craft brewery in Ireland with award-winning stout, lager, Irish ale and IPA products and strong brands. We look forward to supporting the company’s management and brewery team in accelerating its growth in international markets through this strategic investment partnership.”
Rye River Brewing was founded in 2013 in Kildare, some 50 kilometers west of Dublin, Ireland. It is a category leader within the Irish craft beer sector and has four products in the top-15 selling beers in the Irish Retail market in 2021 including its Double IPA that is the number-one selling Irish craft beer in the retail channel.
Next to the Rye River brand, the brewery produces also the brands McGargles, Solas, Grafters and The Crafty Brewing Co exclusively brewed for supermarket chain Lidl.