The company says current sales, marketing and distilling objectives are being fully met, however the Irish and Italian directors differ on how to develop the combined business into the future.
The statement said: "This change will result in the Irish directors taking full control of the existing drinks brands business built on the Writers’ Tears and The Irishman brands that are among the most popular premium and super-premium Irish whiskeys in the world being sold in 50 countries worldwide.
"Consumers of Writers’ Tears and The Irishman brands are assured of their uninterrupted availability. This business will continue to trade under the name Walsh Whiskey.
"Illva Saronno will take full ownership of the distillery, which is renamed 'Royal Oak Distillery'. Illva’s objective is to further enhance Royal Oak as a centre of excellence in Irish whiskey making by continuously improving its technology and processes, producing all three styles: malt, pot and grain (spirits) under one roof, enhancing the visitor experience and achieving recognition as one of the best quality Irish whiskey producers in the market."
The separation of the businesses is effective immediately.
