
Kieran Folliard has left the building.
One of the most famous faces in the Twin Cities bar scene says he has sold his stake in the four pubs he co-founded: Kieran's Irish Pub, The Local, Cooper and the Liffey.
Why? Folliard wants to go into the whiskey business full time. Earlier this year, he replaced much of the top-selling Jameson Irish Whiskey at his four pubs with his own brand, 2 Gingers. Now he wants to take his product out into the marketplace by selling it to liquor stores and other bars.
But liquor laws prevent the ownership of both a distillery arm (he imports his brand from Ireland) and a retail outlet (such as a bar). Therefore, he has to leave his pubs behind. He said he anticipates that the move will be scrutinized, but insisted that his exit from the pubs is a "complete severance." He informed the bars' staff Tuesday of his departure.
Folliard characterized the decision as being "extremely emotional" but said he's restless for a new challenge.
"It's time to pass the baton," he said.
Folliard's longtime business partner, Peter Killen, becomes CEO of the four bars and its umbrella company, Cara Irish Pubs. Folliard would not comment on the size of his buyout.
"It's not like he's going to run off to a deserted island and put his feet up," Killen said. "He's probably going to work harder than ever now."