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Rye River Announcement 5 years 7 months ago #1

Just posting a copy of our press release today.

150 NEW JOBS AND UP TO 100CONSTRUCTION JOBS TO BE CREATED BY RYE RIVER BREWING IN NEW CRAFT BREWERY AND VISITOR CENTRE

- New jobs and investment to be situated in Celbridge, Co Kildare worth an extra €12.5m to local economy per year, will be used primarily to target new opportunities in Irish and international export markets

- Jobs to be housed in what will be the biggest independentbrewery in Ireland which will treble production and an 8,000 sq ft visitor centre to serve the domestic and international tourism market

- The Rye River Brewing Company currently employs 54people in Kilcock, Co Kildare



Monday 5th October 2015

150 new jobs are to be based in a new state of the art craft brewery and visitor centre created by beer and cider business The Rye River Brewing Company in Celbridge, Co Kildare. The new jobs will be created over three years and along with the investment of €4m into the new plant and visitor centre will be worth an extra €12.5m to the local economy. The new positions will be spread across manufacturing, customer service, brewing, export, general operatives and management whilst up to 100 jobs will be generated in the construction of the new brewery plant and visitor centre which is hoped to open in late Spring 2016, subject to planning.

The Rye River Brewing Company was established in 2013 by Niall Phelan, Alan Wolfe and Tom Cronin having learned their craft with global brewing giants Diageo, Heineken and Molson Coors. The founders used their experience gained in dealing with customers, building brands and brewing to build their current team with a vision to not only be the best little brewery in Ireland but the Best Little Brewery in the World! From a standing start in late 2013 the company has grown to almost 60 employees, produces a range of fifteen beers including six of their own brand McGargle beers and is a distribution centre for imported brands such as Bavaria and San Miguel along with craft beers from Innis& Gunn in Edinburgh. They also supply private label contracts with Lidl and supply some exclusive brands to Tesco and Dunnes. Company turnover has increased from €189,000 in 2013 to €5,500,000 in 2014, a 2900% increase, and they forecast a further growth in turnover to €16,000,000 by the end of 2015. Current exports are to 14 countries and further growth is expected to come from the domestic market as well as additional targeting of the UK, US, European and Asian markets.

Making the announcement today, Founder Niall Phelan said: “This is a really exciting time for The Rye River Brewing Company as we reach this significant milestone in our expansion and development and we have strong plans and targets now in place to increase production to meet our growing export markets. Our production capability will treble to seven million litres from the current two million litres as we have outgrown our current brewery and importantly the investment will help us maintain the quality of our award winning Irish craft beers that have helped to drive our expansion abroad. We have been lucky in that we have been profitable from 2014 and we’ve been able to use these profits, our own reserves and some borrowing to fund our existing successful operations and cap-ex. The new development will be funded from cash and some investment and we will be seeking further investment over the coming six months.”

“Our Irish craft beers and brand is positioned to target consumers who we are increasingly beginning to reject main stream beers in search of a beer that has more flavour and character. Often the leap from mainstream beer to craft beer is too challenging and consumers find themselves moving back to mainstream beer. We identified the need for an Irish craft beer, focused on perfecting classic beers styles brewed with passion, which led us to developMcGargles, a range of beer designed for people choosing craft beer everyday. The popularity of our beers abroad is phenomenal and is the main reason for our expansion” he continued.

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Rye River Announcement 5 years 7 months ago #2

Congratulations is some great new for the industry and the area <!-- s:) --><img src="{SMILIES_PATH}/icon_smile.gif" alt=":)" title="Smile" /><!-- s:) -->

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Rye River Announcement 5 years 7 months ago #3

Once up and running, they will be the first microbrewery to make the jump.

They will cease to be considered a microbrewery by revenue's definition and as a result, our own. In the short term anyway. Definitions change with the times.

We always knew they would have the potential to get to about 70khl eventually as that was their goal.

Good luck to them and it's great news for Celbridge.

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Rye River Announcement 5 years 7 months ago #4

Maybe its time to review the definition.

If Irish Micro Breweries are to be successful and recognised on the word stage in the long term they need to expand beyond Ireland and grow their business internationally.

As it stands the definition actually punishes the brewery for being successful.

The U.S. has revised theirs over the years to accommodate the growth of the independent brewers.

I'm sure there will be lots of opinions on this, and mine is surely biased <!-- s:wink: --><img src="{SMILIES_PATH}/icon_wink.gif" alt=":wink:" title="Wink" /><!-- s:wink: --> but it would be good to start the debate.

Wouldn't it be great if we had 10 breweries that size in Ireland. That would really challenge the Diageos and Heinekens of the world

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Rye River Announcement 5 years 7 months ago #5

&quot;Saruman&quot;:28ppzu4j wrote: Once up and running, they will be the first microbrewery to make the jump.

They will cease to be considered a microbrewery by revenue's definition and as a result, our own. In the short term anyway. Definitions change with the times.

We always knew they would have the potential to get to about 70khl eventually as that was their goal.

Good luck to them and it's great news for Celbridge.[/quote:28ppzu4j]

It will be changed in this years budget to allow growth

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Rye River Announcement 5 years 7 months ago #6

&quot;rebelred&quot;:30qhq6un wrote:
It will be changed in this years budget to allow growth[/quote:30qhq6un]

I was hoping so. We have been asking for a graduated approach to make the jump to larger capacity a soft landing rather than being a complete cut off.

With regards to changing the constitution, all members may put forward a motion to be voted on.

For now, it might do to wait and see what happens in the budget. If that takes care of things then we just need to vote to accept the new revenue definition as our own.

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