Firm shows it has the bottle in €2m bid
Waterfall Ridge Ltd is also planning to create up to 25 jobs by the end of next year.
The bottle top product is known as the OTT (over the top) and is designed to protect bottles in pubs and nightclubs. Its developers say it will help to reduce the risk of drink tampering as well as protecting people from bottles that may have got dirty during distribution.
The product is reusable and will be available in Musgrave stores across Ireland, following the signing of a contract between Musgrave and Waterfall Ridge.
So far, close to €750,000 has been invested in the development of the product, which is believed to be the first of its kind to be developed by an Irish company.
It is the brainchild of three Cork businessmen, Adrian McCarthy and brothers Victor and Finbarr Twohig.
Limerick businessman and partner John Hegarty has invested €350,000 in the company.
The top is manufactured in Cork and patented in 137 countries worldwide.
It retails at €5.45 and as well as being sold in Musgrave stores will be available in bars and nightclubs initially in Cork, Kerry and Limerick.
It is expected to be launched in Dublin around St Patrick’s Day next year.
Eleven jobs have been created by the new company, with up to 14 more planned for next year.
Director of Waterfall Ridge Ltd, Victor Twohig said: “We are delighted to launch the OTT as it will ensure people can enjoy a fun, relaxed and safe night out.
“Reaction from the publicans and club owners we have met has been extremely positive. Also, 76% of young women told us that they regularly drink from bottles so we know there is a genuine need for the bottle top.”
Mr Twohig said there are plans to roll out the product internationally and they have received interest in Britain and Germany.
The firm has two other products in the pipeline — a glass OTT and an ice maker.
Victor and Finbarr Twohig are also directors with Cork-based tool company, T&T Precision Limited.
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