The Gleeson Group , Borrisoleigh, Co.Tipperary, has agreed a €26m refinancing deal with its banks with a view to spending up to €25m on new acquisitions which may come about because of the economic downturn.
Tipperary Spring Water
Owned by the Cooney family since the 1970s, the Gleeson Group was initially a Guinness bottler but now distributes everything from soft drinks to beers and ciders.
Gleeson Group is Ireland’s leading supplier and distributor of beverage products in Ireland.
With 11 fully owned distribution hubs, the company have full national coverage and can deliver to every shop, restaurant, catering company, distributor, supermarket, public house, forecourt and hotel in Ireland, both North and South.
Established by the Gleeson family in the late 1960’s in Borrisoleigh, County Tipperary, Gleeson was a manufacturer of soft drinks and a bottler of the Guinness stout brand.
The soft drinks giant, best known, nation-wide, for its product ‘Tipperary Water’ operates a drinks and distribution business and currently enjoys a turnover of almost €250m.
In February M & J Gleeson (Investments) secured a new €26m facility from AIB, Barclays and Bank of Scotland (Ireland), which included the refinancing of a €12m loan originally taken out in 2007.
The Company has already bought out an Offaly distributor in recent weeks and seems confident that there will be further opportunities over the coming year.
Public demand soared for its Tipperary Water product, amid shortages of tap water brought about by recent flooding and frozen arctic conditions.
The Company currently employs a team of approximately 686 employees and despite some trading difficulties due to the economic downturn, declared no redundancies in 2009. This was partly due to good forward planning and timely action on product cost, which included a pay freeze accepted right across the total workforce.
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