Drinks company buys new site for €10m

Galvin's Wines & Spirits, the Cork-based national drinks company, has announced the purchase of a 130,000 square-foot premises in Mahon, Cork, for €10m.

It is anticipated that once the fit-out of the building is complete, the total monies involved will exceed €12.5m.

The premises, which includes an additional 3.5 acres of development land, was formerly owned by Ridge Tool.

It will provide a centralised distribution facility for Galvin's, currently operating from a 21,000 square-foot premises at Lehenaghmore, Cork.

Company chief executive John Galvin said the deal would lead to the creation of 50 extra jobs over the next 12 months.

The family-owned company, which has a number of exclusive wine agencies, launched the Carry Out off-licence franchise chain in 2003.

There will be 35 outlets in the chain by the end of this year.

Galvin's Wines & Spirits wholesale business is expected to have a turnover of €40m this year.