Spirits high as Cork drinks giant in takeover bid

Drinks distribution firm Barry & Fitzwilliam is now planning to do a deal to take over Galvin’s Wholesale, which earlier this year announced that a tax fraud perpetrated on it had put it into financial difficulties.

Galvin’s confirmed in the High Court in September that the Revenue Commissioners were seeking €6m in payment from it.

Company director John Galvin said turnover had reached €61m last year and that both its wholesale and Carry Out chain of off-licences were profitable.

Now comes word that Cork-based Barry & Fitzwilliam, headed by Michael Barry, is interested in taking over the wholesale part of the company and possibly also its chain of off-licences.

There are currently 52 Carry Out outlets.

Mr Barry has confirmed that Deloitte is carrying out due diligence on Galvin’s.

He began in the wine business in 1982 with three employees. Today Barry and Fitzwilliam, which he set up with fellow Corkonian Chris Murphy, employs 90 people.

On a visit to New York in 1986, Michael saw Corona beer and set about getting the agency for its distribution here. He built it up into a huge marketing success.

Corona is now, per head of the population in Ireland, third behind America and Mexico, in sales.

Barry & Fitzwilliam, (established 1982), Ireland’s leading independent distributor of wines, spirits and beer brands, has direct distribution contracts with Beam Global Spirits & Wine, Bols Amsterdam, The Edrington Group, Rémy Cointreau Group and SPI Group for a total of 23 internationally-recognised brands.