A NEWLY-formed drinks company is seeking to raise £3.375 million and £4.275 million by way of public offer to finance a regional brewery.

Poachers plc was formed by a number of executives experienced in the beer trade in Ireland and Europe and intends to produce draught ale and stout at a new brewery in Kilbeggan, Co Westmeath.

The brewery will employ 12 initially, with the number growing to 18 as it develops. The company plans to be trading from early November.

The primary market for Poachers Black, a stout, and Poachers Ale will be a number of selected outlets in the greater Dublin area.

The brewery will have a capacity of 45,000 hectolitres (hl), although initial projected production and sales is to be 8,000hl, rising to around 20,000hl by Year Three. A hectolitre is 100 litres or 176 pints. Total. consumption in the Irish beer market is about 5,000,000hl.

"We believe that a significant number of pubs and micro breweries will be established in the Irish market over the next few years," said Mr Gerry van Soest, chief executive of the new brewery.

"Our brewery will be larger than the standard micro breweries and will therefore be in a stronger position to secure a reasonable market share."

Mr van Soest is a former managing director of Murphy's and chief executive of Heineken in the Netherlands.

The chairman of the new company, Mr Geoffrey Palmer Moore, is currently CEO of Lubinski Holdings plc, a new company in the business of premium flavoured vodkas. He is a former managing director of the British and European division of Molson.

The sales and marketing director is Mr Peter Kelly, who worked for 15 years with Murphy's Dublin operation, most recently as overall manager for Dublin city and county.

The company plans to have 80 pubs selling its beers immediately, a sufficient number to achieve first-year projections.