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Irish Times
2 hours ago
- Business
- Irish Times
Powerscourt Distillery: Receiver puts business and €35m worth of whiskey up for sale
Receivers appointed to the Powerscourt Distillery in Enniskerry, Co Wicklow have put the business and its assets up for sale. Documents relating to the sale, seen by The Irish Times, value its stock of whiskey at just under €35 million, including 25-year-old stock purchased from the Cooley Distillery. No value has been placed on the overall business in the documents circulated. The receiver appointed to the distillery, Mark Degnan of Interpath Advisory, outlines a desire to achieve a full asset sale of the business. 'At this time I am not considering individual or bulk cask sales, but reserve the right to enter into negotiations for such sales following the conclusion of this proposed process,' the receiver said in a letter to potential buyers. READ MORE The sales process has been dubbed Project Cask and a deadline of the August 5th has been set for expressions of interest. Mr Degnan was appointed as receiver on June 26th by the company's sole secured creditor, PNC Financial Services UK Ltd, which was owed €21.5 million at the end of June. Minority shareholders later sought to appoint an examiner in place of the receiver, with Joseph Walsh of JW Walsh accountants appointed on an interim basis. This motion was withdrawn in advance of the hearing, which had been set for July 17th, and the company re-entered receivership. Based in the Powerscourt Estate, Co Wicklow, the distillery is described as 'producing premium Irish whiskey with an in-house brand, visitor centre, bulk supply and cask programs' and operates in 30 markets across Europe, North America, Asia and Africa. The company saw 'consistent revenue growth' with sales peaking at €5.3 million in 2023 before dropping to €3.9 million in 2024 'due to challenging international market conditions'. Revenue is projected to rebound beyond €5 million in the 2027 financial year, with a gross margin in 2024 of 48 per cent. The distillery has a production capacity of 360,000 litres of pure alcohol, with the potential to nearly double this capacity to 680,000 litres with a 'modest investment of €350,000″, the sale document states. Powerscourt Distillery's Fercullen Whiskey brand drove its growth from 2019 to 2023, with annual growth of 93 per cent. The visitor centre grew its numbers by 19 per cent in the period. The company is based in a 950 square-metre premises, in which the distillery, visitor centre and offices are located, in addition to a 930sq m meter on-site warehouse and three additional off-site warehouses. Powerscourt Distillery, Co Wicklow Stored in the warehouses is stock with a market value of €34.9 million, which the receiver's document states is down from a previous valuation of €41 million as of September 2024, 'driven by local market valuation drivers which are expected to improve'. The company, which is currently in a trading receivership, is said to boast an 'experienced leadership team'. Its staff are expected to stay with the distillery following the sale. With a holding of nearly 38.5 per cent, the single largest shareholder is the Slazenger family (who own the Powerscourt Estate), from whom the distillery rents the visitor centre and distillery property. At the start of June, rent arrears were above €550,000, but as an unsecured creditor they are left awaiting the outcome of the sale. Existing cask owners' contracts are expected to be treated as business as usual upon a sale. The receiver did not comment on the sale.
Washington Post
4 days ago
- Business
- Washington Post
The future of Scotch whisky lies in the hands of a sober American president
FIFE, SCOTLAND — Drew McKenzie-Smith was working as a chef in northwest England when a man knocked on his father's door with news: A scroll from a long-dead king recorded the earliest known mention of Scottish whisky, and it was traced to the ruins of a monastery next door. McKenzie-Smith, now 61, did his research, took a risk and built a distillery — entering a global industry subject to the shifting tides of war and diplomacy to honor his family and heritage.
Washington Post
5 days ago
- Entertainment
- Washington Post
Trump's tariffs are promoting free trade — in Canada
TORONTO — In 2024, the grand prize at the Canadian Whisky Awards went to Paradigm Spirits. Its entrant, made with Canadian corn, aged for 19 years in American oak barrels and blended with a splash of Spanish sherry, beat some 200 competitors to be crowned Whisky of the Year. A judge called it 'remarkable.'
Forbes
23-07-2025
- Business
- Forbes
The World's Best Single Malt Whisky, According To BevTest
Yuanshan, Republic of China - October 2, 2023: Oak casks of maturing single malt whisky at the Kavalan Whisky Distillery. getty In recent years, the global whisky scene has been reshaped by the rise of new producers from unexpected corners of the world. Nowhere is this more evident than in Asia, where countries like Taiwan, India, and Japan have rapidly emerged as serious competitors to traditional whisky powerhouses. The 2025 Beverage Testing Institute (BevTest) World Whisky Judging offered a striking example of this trend. Asian whiskies, particularly from Taiwan's Kavalan distillery, dominated the competition, earning the majority of top medals. The awards also highlighted surprising gold medal winners from non-traditional whisky-producing nations, such as France and Indonesia, underscoring the evolving, increasingly diverse nature of global whisky excellence. Kavalan swept all three of the Platinum medals and 24 of the 26 gold medals. Many of the winners were from Kavalan's Solist Series. The Kavalan distillery was founded in 2005 in Yilan County, Northeast Taiwan, by the King Car Group, a prominent Taiwanese conglomerate. Although Taiwan has no history of local whisky production, the distillery quickly emerged as an innovator, known for pushing boundaries and developing its unique stamp on whisky. Taiwan's hot, humid environment accelerates aging, creating richly matured whisky after just 4–8 years of barrel aging. On average, whisky in Taiwan matures at three times the speed it does in Scotland, and it loses a higher 'angel's share' to evaporation, typically 12%-15% annually. Rapid maturation can be tricky to manage, especially ensuring the whisky is balanced. Kavalan's Barrel rooms are carefully climate-managed to prevent over-aging. The tropical climate also accelerates cask finishing, allowing for greater extraction from barrels and a more flavorful whisky. Some of the whiskies in the Kavalan Solist range. Photo, courtesy Kavalan The Solist Series is Kavalan's crown jewel. Introduced in the late 2000s, this series helped catapult Kavalan onto the global whisky stage, showcasing the remarkable effects of Taiwan's subtropical climate and the distillery's innovative barrel management. The range is a collection of single cask, cask-strength, non-chill-filtered, non-colored single malt whiskies—each matured in a specific type of barrel to highlight a distinct flavor profile. All the whiskies are bottled at natural cask strength, typically 55–60% ABV. Each expression is sourced from a single barrel and individually numbered. The whiskies are not chill filtered, preserving all fatty acids and esters. The result is a range of whiskies offering exceptional complexity and intensity, providing a case study in how cask influence shapes whisky. Below is a brief description of some of the top-ranked Kavalan whiskies from the BevTest judging, as well as a summary of the aroma and taste profile of the Solist series. Kavalan Solist Brandy, 55.6% ABV, 750 ml. $229 This whisky is matured in ex-brandy casks, resulting in a rich, fruit-forward profile. It scored 98/100 points and earned a platinum medal. The whisky features aromas of candied apricot, caramel custard, brandied yellow plum, and toasted oak. It's silky and flavorful on the palate, showcasing flavors of raisin, orange zest, crème anglaise, and baking spice. The finish is long, smooth, and sweet, with lingering notes of brandy sweetness and grapefruit peel. Kavalan, Solist Fino Sherry, 59.4% ABV, 750 ml. $599 The whisky is matured in Fino Sherry butts. This expression offers a dry, oxidative Sherry character enhanced by accelerated tropical maturation. It scored 97/100 points and was awarded a platinum medal. It features aromas of almond, crusty bread, green apple, and honeycomb. It's dry and nutty on the palate, showcasing flavors of marzipan, green grape, and a touch of cooked cereal/malt sweetness. The finish is long and crisp, with lingering notes of almond and a saline aftertaste. Yilan, Taiwan - November 29, 2018: Kavalan Distillery Building. Kavalan Distillery is a Taiwanese whisky distillery. It is owned by the King Car Group and is located at Yuanshan Township. getty Kavalan, Solist Amontillado Sherry, 54.8% ABV, 750 ml. This whisky is matured in Amontillado sherry casks, striking a balance between the freshness of Fino and the richness of Oloroso. It scored 97/100 points and a platinum medal. The whisky features classic Amontillado aromas of toasted almond and hazelnut, along with notes of brown sugar, dried cranberry, fig jam, and subtle leather. It's dry and rich on the palate, showcasing flavors of dried fruit, cedarwood, toffee, and gentle spice. The finish is long and excellent with lingering notes of toasted nuts and seasoned oak. Kavalan 15-Year-Old Single Malt, 43% ABV, 750 ml. $149 The whisky is aged for 15 years in Taiwan's warm climate in a mix of ex-bourbon, Sherry, and both Ruby Port barrels and puncheons. It scored 95/100 points and a gold medal. It features tropical fruit notes of candied mango, melon, and sweet citrus, along with caramel, chocolate, and leather. It's robust and concentrated on the palate, showcasing flavors of honey, herbal notes of aged tobacco leaf, caramel, candied fruit, and wood spices. The finish is long and fruity, with lingering notes of tropical fruit, toffee, and seasoned oak. Kavalan, Solist PX Sherry, 56.3%, 750 ml. $699 This whisky is matured in Pedro Ximénez sherry casks. It offers a rich, indulgent, dessert-style whisky. The whisky scored 95/100 points and a gold medal. The whisky features aromas of toffee, fig jam, Christmas cake, and toasted almond. It's dense and syrupy on the palate, showcasing flavors of dark dried fruit, heavy caramel, and wood spices. The finish is thick, sweet, and powerful, with lingering notes of raisin and burnt sugar. Below is a summary of the other gold medal-winning soloist expressions. Some additional award-winning expressions in Kavalan's Solist Series. Chart, J Micallef These Kavalan whiskies all scored 94 points and were awarded gold medals: King Car Conductor Single Malt Whisky, Kavalan Master's Select Reserve No.1 Single Malt Whisky, Kavalan Solist Oloroso Sherry Single Cask Strength Single Malt Whisky, Kavalan Solist Vinho Barrique Single Cask Strength Single Malt Whisky, Kavalan Solist Madeira Single Cask Strength Single Malt Whisky, Kavalan Solist Manzanilla Sherry Single Cask Strength Single Malt Whisky, and Kavalan Solist Moscatel Sherry Single Cask Strength Single Malt Whisky. Scoring 93 points and also winning gold medals were: Kavalan Concertmaster Port Cask Finish Single Malt Whisky, Kavalan Concertmaster Sherry Cask Finish Single Malt Whisky, Kavalan Distillery Select No.1 Single Malt Whisky, Kavalan Distillery Select No.2 Single Malt Whisky, Kavalan Triple Sherry Cask Single Malt Whisky, Kavalan Port Oak Single Malt Whisky, Kavalan Lán Single Malt Whisky, Kavalan Podium Single Malt Whisky, Kavalan Solist Ex-Bourbon Single Cask Strength Single Malt Whisky, Kavalan Solist Peated Single Cask Strength Single Malt Whisky, Kavalan Solist Port Single Cask Strength Single Malt Whisky, and Kavalan Solist Palo Cortado Sherry Single Cask Strength Single Malt Whisky. Also winning gold medals, scoring 91 points, were Kavalan Classic Single Malt Whisky and Kavalan Master's Select Reserve No.2 Single Malt Whisky. Kavalan Wine Oak Single Malt Whisky also scored 91 points and received a gold medal. Two other whisky expressions also earned gold medals. Hériose Le Classique Whisky, a French whisky, scored 93 points, and—perhaps most surprisingly—Keris Silver Single Malt Whisky, an Indonesian whisky, scored 91 points. The 2025 BevTest results reaffirm a continuing shift in the whisky world: excellence knows no borders. Kavalan's dominance, with its climate-driven maturation and experimental cask finishes, represents a new paradigm for what world-class whisky can look and taste like. The performance of unexpected medalists from France and Indonesia further emphasizes that innovation and craftsmanship are flourishing globally. Whether you're a collector, connoisseur, or curious newcomer, these award-winning whiskies are a testament to the boundless potential of modern whisky making—and they're well worth exploring. More From Forbes Forbes 2025's Best Single Malt Irish Whiskeys, According To BevTest By Joseph V Micallef Forbes India's Whisky Revolution: Rising Stars Of Single Malt By Joseph V Micallef Forbes The Top Single Malt Scotch Whisky, According To The International Wine And Spirit Competition By Joseph V Micallef
Yahoo
23-07-2025
- Business
- Yahoo
Founder of Mean Mule Distilling Company dies in weekend motorcycle crash
KANSAS CITY, Mo. — Jeff Evans, the founder of a popular Kansas City-based distillery, Mean Mule, was confirmed to be the victim of a deadly motorcycle crash over the weekend, according to his company. In a Tuesday, staff at Mean Mule Distilling Company shared a heartfelt message, honoring the late founder and his dedication to the Mean Mule family. Police identify woman killed in flash floods on Overland Park trail The post reads, in part: 'It's with shattered hearts that we share the loss of our founder and friend, Jeff Evans, who passed away in a motorcycle accident this weekend. 'Jeff was the heart and soul of Mean Mule. His spirit, humor, and craftsmanship shaped everything we are. Alongside his wife and our cofounder, Meg, Jeff built more than a distillery – he built a community.' Mean Mule opened for business in ; however, its roots trace back much further than that. The, a 'Mean ol Mule' and a woman, Grandma Lillian, who passed down stories from the Great Depression era—of how her family made it out of poverty with the help of 'booze.' Now, nearly a century after Prohibition, Evans was able to create a brand with more than 17,000 followers on Instagram that centered around community, his family's story and the stories of the distillery's loyal customers. Mean Mule will be closed until Wednesday, allowing staff, family and friends the time to grieve. But once the doors are open, staff said they will welcome all who knew and loved Evans. 'Remember him with us, grieve with us, raise a glass with us, and share the stories and laughter he gave us. We've also made a Google form where you can submit ' for us all to enjoy,' the post reads. Download WDAF+ for Roku, Fire TV, Apple TV 'Supporting our business is supporting us. If you'd like to honor him, find a bottle or can of Mean Mule at your local shop and make a toast to him. We don't yet know what the coming days, weeks, or months will look like, but we'll keep you updated here as we find our way forward. We'll also share details about a memorial or service for Jeff when we're able. Thank you for loving Jeff and for being part of our beautiful Mean Mule family.' At this time, there are no details regarding Evans' crash or an upcoming memorial service. To stay up to date with Mean Mule and any future events honoring Evans' life, . Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
