Dundalk-born entrepreneur Lyons buys Newry-based craft brewery

Dr Pearse Lyons

Dundalk-born entrepreneur Pearse Lyons has bought a Newry-based craft brewery.

Lyons, who used to work in the Harp Lager brewery in Dundalk, is the brains behind US firm Alltech.

While their main business is animal nutrition, it is also developing a brewing and distilling division.

Now though, Lyons has bought the Station Works brewery from the Haughey family, better known as the owners of Norbrook Laboratories. The deal also includes the Cumberland Breweries at Great Corby in the north of England.

Alltech produces craft beers at its US facility in Kentucky and said this deal will give it a platform for expansion in Europe.

He described the purchase as “a kind of homecoming for me, as well as a big moment for the beverage side of the company and for craft brewing in Britain and Ireland”.

The Station Works brewery began operation in 2013 on a site behind Newry train station.

It brews Finn lager and Foxes Rock pale ale. It also houses a bottling and canning facility.

A spokesperson for Norbrook said: “We are delighted that the company will continue as a trading business under its new ownership, as a key player in the craft brewing industry.

“We will be working closely with the new owners and staff to ensure business continuity throughout the transition process.”

Norbrook Laboratories received €8.55m insurance pay-out following Haughey death

The late Eddie Haughey RIP

Newry-based Norbrook Laboratories has received an insurance pay-out of £6.12m (€8.55m) arising from the death of its founder and CEO Edward Haughey.

The former Seanad member and chairman of the group, Lord Ballyedmond died in March of last year in a helicopter crash in thick fog in Norfolk along with three others.

At the time of the crash, Dundalk native Lord Ballyedmond (70) was Northern Ireland’s richest man with his personal wealth estimated to be around £650m.

Now, new accounts filed by Norbrook Holdings Ltd to Companies House in the UK disclose that the group received the exceptional gain of £6.12m through its ‘keyman insurance policy’.

Businesses take out ‘keyman’ insurance policies to compensate for any financial losses that may arise from the death of a key member of business.

The £6.12m gain contributed to profits increasing at the group last year by 7pc to £22m.

The group – which employs 2,045 people – recorded the increase in profits in spite of revenues decreasing by 2pc from £202.49m to £198.7m in the 12 months to the end of August 1, 2014.

The accounts show that Mr Haughey last year received emoluments from Norbrook Laboratories totalling £2.7m.

Lord Ballyedmond was born in Kilcurry, north of Dundalk and was educated by the Christian Brothers in Dundalk.

According to the directors’ report since Lord Ballyedmond’s death, the company has taken steps to strengthen its board and management team and has appointed to the board Lady Ballyedmond, Prof James Haughey and Edward Haughey.

Liam Nagle – who previously served as CEO of the Sisk group – was appointed Norbrook Laboratories chief executive in February of this year.

Edward Haughey funeral to take place today

The late Eddie Haughey RIP

The funeral of Lord Ballyedmond Edward Haughey, who died with three others in a helicopter crash in England earlier this month, is due to take place later today.

A former Coláiste Rís student, Dr Haughey was one of Northern Ireland’s richest men and founded the world-renowned Norbrook Laboratories. He was made a UUP peer in 2004 before switching to the Conservative Party. His title came from Ballyedmond Castle, which he owned in Rostrevor.

The 70-year-old died after his helicopter crashed in Norfolk on the evening of Thursday March 13th.

The other victims were colleague and site foreman Declan Small, who was from Mayobridge in Co Down, and two pilots named as Captain Carl Dickerson and Captain Lee Hoyle.

Mr Small’s funeral took place in his native village on Sunday.

Funeral mass for Dr Haughey will take place this morning at the Cathedral of Saint Patrick and Saint Colman in Newry at 11:30am.

He was born in Kilcurry, just outside Dundalk, in 1944 and will be buried in the parish cemetery on Monday afternoon.