Guinness owner unveils $1bil brewing investment for Ireland
Diageo plc, owner of Guinness Ireland, today announced its intention to make a capital investment of €650 million ($1.004 billion)* in a new world-class brewing centre of excellence in Ireland to support the growth and development of its global beer business.
This proposal would result in the rejuvenation of the historic St. James’s Gate brewery and the construction, close to Dublin, of a new state of the art brewery, which would produce all beer types. It follows a comprehensive assessment of all brewing operations in Ireland, which was undertaken over the past 12 months. The assessment identified the optimum strategy to deliver the global competitiveness necessary for future growth and sustained success.
Commenting on the announcement, Paul Walsh, Chief Executive of Diageo plc, said, “This will be the single biggest capital investment made by Diageo in its supply infrastructure since the company’s creation 10 years ago and will enhance the cost competitiveness of our global beer operations. It represents a major vote of confidence in our beer business and in Ireland as a global brewing centre of excellence for our company.
“This proposal will support the long-term success and growth of Guinness around the world, as well as the other beers we brew for Ireland, Great Britain and international markets. Our ambition is to create a brewing hub, which will meet the highest standards of technology, efficiency and environmental management. It will marry 21st century solutions to our 300 years of brewing tradition, craft and heritage in what I believe will be a winning combination.”
*based on 1 EUR = 1.54475 USD