New platform launched for bulk sale of Waterford Whisky
Mark Reynier bought the former Diageo brewery on Waterford's Grattan Quay in 2014, converting the facility into a premium whiskey distillery. Photo: Joe Evans
Interpath Advisory’s Mark Degnan and Darryl McKenna - the receivers behind Waterford Whisky - have set up a new platform to offload thousands of casks of the premium whiskey brand, according to the Sunday Times Ireland.
Waterford Whisky will be sold alongside products from Powerscourt Distillery, another ill-fated premium whiskey producer.
Mr Degnan and Mr McKenna have set up ‘Prestige Casks’, a platform due to go live on March 17.
Prestige Casks promises to allow “strategic buyers” to bypass the decade-long maturation buffer required for high-end whiskey and purchase a multi-year supply at scale.
According to the platform, over 70,000 casks will be available to purchase, the equivalent of 17 million whiskey bottles.
“For a large majority of our available inventory, the production process was meticulously documented to ensure the liquid could be traced directly back to the exact farm and specific harvest from which the barley was sourced,” the platform reads.
“This unbroken chain of custody was maintained through a proprietary, in-house tracking system that recorded critical data points across every phase of production - from the initial harvesting of the raw grain through to distillation and casking.”
The description chimes with the concept of ‘terroir’, the idea of traceability that Mark Reynier founded Waterford Whisky on in 2014. The whiskey was produced in the former Diageo brewery on Grattan Quay.
Each bottle of Waterford Whisky had a unique QR code that would show consumers the exact farm that produced the whiskey’s barley and the soil type it inhabited, as well as the relevant fertiliser used.
Waterford Whisky entered receivership in November 2024 after a sustained period of financial hardship and a failure to raise fresh equity.
It’s understood that the retail value of Waterford Whisky stock in receivership is in excess of €100 million.
Tennessee Distilling Group, an American whiskey contract producer, have been in exclusive negotiations to take over the distillery and Waterford Whisky’s IP for €6 million.
Representatives from the group have visited Waterford over the past months ahead of the planned acquisition.
