Enterprise Ireland
Annual Report and Accounts 2005
Annual Report and Accounts 2005
First Ireland Spirits is the largest Irish-owned manufacturer of alcoholic drinks, with a turnover of more than €20 million. The company has begun a significant operation to rapidly scale up its business in order to realise its full potential to become a large, global company providing high value products in world markets. The company’s success so far is a sound starting block for the growth it can achieve going forward.
First Ireland Spirits was founded by Joe Lynch and Owen Brady in 1994. Its largest markets are the United States and the United Kingdom where its customers include key retailers such as Tesco, Walmart and Sam’s Club. Its own-brand product range includes beverages such as Feeney’s, O’Mara’s and Jive and it has a wide range of private-brand spirits, cream liqueurs and pre-mixed cocktails.
With significant assistance from Enterprise Ireland, First Ireland Spirits devised and began implementing a five-year strategic plan in 2005. A key element of the strategy is an extensive research and development programme furthering innovation in products, ingredients, processes and packaging. This will further new product development and new export markets and ensure that the company maintains its highly efficient cost base. The plan also involves a significant scaling up of the company’s operational capacity in Abbeyleix, Co. Laois and a major management development programme to enhance the skills of its staff.
Joe Lynch, co-founder and Managing Director at First Ireland Spirits, is confident that the company will be able to achieve its ambitious growth plans. He says:
“Managing change is never easy and we’re looking at a significant degree of change in a number of areas. However, Enterprise Ireland has helped us to look at our business from every angle and plan our growth. We have a very experienced team, we’ve agreed our strategy and we have the resources to make it happen.”
New markets such as South America, Eastern Europe and Australasia are already opening up for First Ireland Spirits and Enterprise Ireland continues to work closely with the management team on all aspects of the company’s growth plan. In 2005, First Ireland Spirits was short-listed for the Small Firms Association’s National Small Business Awards and the company went on to become the Overall Award winner in 2006.
