Distributor Paragon Brands sells majority stake 21st April, 2021 by Melita Kiely
Maison Villevert has acquired a majority stake in distribution company Paragon Brands and expects the UK distributor’s revenue to triple in the next five years.
Paragon Brands distributes Dingle Whiskey in the UK
Maison Villevert’s export director, Guillaume Villerabel, forecasts “a comfortable target of £15 million (US$21m) revenue within the first three years” for Paragon Brands.
Terms of the deal were not disclosed.
Chris Jones, founder of Paragon Brands, said: “We are committed to the sales and distribution growth of our portfolio and have a clear focus to build the Maison Villevert brands into leading premium spirits within the UK, while cementing Paragon Brands’ reputation as a go-to destination for innovative brands seeking focused distribution and brand-building capabilities in the fast-paced UK premium drinks category.
Dingle Distillery investors rue Revenue decision on tax relief The tax authority has ruled that the EIIS scheme run by the company is not eligible for relief 22nd November, 2020
Elliot Hughes, managing director of Dingle Distillery: ‘It‘s extremely frustrating for us.’ Photography: Sasko Lazarov/Photocall Ireland
A group of investors in Dingle Distillery have been left waiting several years for returns after the Revenue Commissioners took the view that the tax-friendly scheme through which they put in funds was not eligible for relief.
In December 2017, around 50 investors availed of the Employment Investment Incentive Scheme (EIIS) run by the company, an artisan distiller of whiskey, gin and vodka.
There were over 600 jobs in Ãdarás na Gaeltachta client companies in Kerry last year, according to its annual report.
Ãdarás na Gaeltachta is the regional authority responsible for the economic, social and cultural development of Gaeltacht areas, including Daingean Uà Chúis and Baile an Sceilg.
Ãdarás na Gaeltachta says 32 new jobs were created in Kerry Gaeltachts during 2020, which brought to 611 the number of jobs in supported client companies.
However, the area saw an overall decrease of 12% in employment in Kerry last year due to the effects of COVID-19 restrictions.
A further 20 jobs will be created when projects comprising investments worth â¬580,000 get underway in the future.