Rye River receives multi-million euro investment from Warsteiner Group
Strategic partnership from ninth-generation family-owned German brewery to support Rye River Brewing Company’s ambitious international growth plans
29 November 2022 | 0
Rye River Brewing Company, Ireland’s leading independent retail craft brewery, based in Celbridge, Co. Kildare, has successfully completed its latest fundraising by securing a multi-million euro investment from German brewery Warsteiner.
This investment will see the ninth-generation family-owned brewery acquire a minority stake in Rye River, and provide both capital and operational support, with a focus on accelerating Rye River’s growth in export markets, in particular by gaining access to Warsteiner’s well-established distribution channels and networks internationally.
Sustained investment has been key to Rye River Brewing Company’s growth and success since it was established in 2013. Last year, Rye River moved to a 24/7 shift brewing pattern, which expanded production capacity by 25%, to satisfy current demand and to facilitate future volume growth.
The introduction of a new packaging line costing €1.3m is currently in train, and Rye River says the fresh investment from Warsteiner Group will enable the business to advance its capital investment programme in additional brewing, packaging and warehousing projects for the remainder of 2022 and throughout 2023.
The completion of this latest funding round follows the publication of Rye River Brewing Company’s 2021 annual results earlier this week which showed an increase in revenue, with operational profitability maintained despite significant challenges in domestic and international markets during 2021. The report also provided a trading update, noting a strong performance for the first half of 2022, with continued volume and market share growth.
Now employing 62 people, Rye River Brewing Company further strengthened its position as a category leader within the Irish craft beer sector in 2021 with its status as Ireland’s number one retail craft brewery. Nielsen data confirmed that Rye River Brewing Company had four products in the top 15 selling beers in the Irish retail market in 2021 and its Double IPA was the number one selling Irish craft beer in the retail channel.
Helmut Hörz, CEO and CFO and chairman of the Management Board of the Warsteiner Group will join the board of Rye River as a non-executive director, adding further strategic capability to the Celbridge-based brewery chaired by international drinks industry veteran Neil Everitt. Hörz will provide a key link with Warsteiner to ensure its experience, operational excellence and Warsteiner’s international distribution network can be leveraged to their fullest extent.
Rye River Brewing Company was advised by Deloitte’s Dublin office in the fundraising.
“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,” said Tom Cronin, founder and managing director of Rye River Brewing Company.