The Foundry was one of four outlets that the Dinn Rí group purchased from the receiver to the Tweedy Group in Waterford last Autumn in a deal worth €4 million. The Tweedy Group went into receivership in early 2010.
In addition to the Foundry, the Dinn Rí group re-opened the Woodman Bar just before Christmas and it plans to open the other two venues – Oxygen and Muldoon’s – before the end of the year.
The Group,which has invested some €3 million in its Carlow complex over the past two years, believes there to be a market for the four outlets in Waterford and is prepared to wait a couple of years to realise its investment.
Around 130 people work in the Carlow complex and the Group expects to employ the same number again throughout the four premises in Waterford. This figure would be over 30 more than was originally employed in the Tweedy Group’s Waterford operation.
Company director Sean McLoughlin stated, “The trend across the country is for little investment and little development. We are excited to be making major investment in the Waterford area at this time”.