Teeling Whiskey board watered down as three Bacardi executives join as directors
Company filings reveal family is now outnumbered amid speculation the drinks giant is aiming to take a majority shareholding in the company
Ten years ago, Jack and Stephen Teeling took their share of the sale of Cooley Distillery – which was acquired by drinks giant Beam for $95 million (€71 million) – and staked it on another whiskey venture.
They had a share of the sale proceeds and about €11 million-worth of whiskey stock – finished spirits, works in progress and raw materials – and set up the Teeling Whiskey Company.
“People keep asking us why we are going back into whiskey now, so long after Cooley was set up,” Jack told the Business Post around that time. “It’s because we genuinely believe that the opportunity is bigger than it’s ever been.”
