Hailing from Galway, Declan Duggan’s impressive engagement in the beverage industry has provided him a wealth of opportunities to shape a unique and thrilling career in the United States. Owning an equity stake, Duggan, an ex-Diageo executive, defines himself as an habitual architect of brands.
With two decades’ worth of American market experience and a deep understanding, Duggan has boosted sales for many non-alcoholic drinks brands and a DIY beverage distribution enterprise. As a result, these companies have either garnered significant investments or have presented lucrative exit strategies for their originators.
The process, according to Duggan, involves strategically tweaking operations, assembling a competent team, fostering company culture, and spreading the organisation’s wings nationwide. In many instances, the original creators aim to finalise a sale once they hit a specific revenue milestone – a goal that Duggan and his team relentlessly chase.
“If the proprieters dream of making $500 million off a sale, we understand that we need to push the sales to a minimum of $200 million, it typically requires a revenue multiplier of 2.5 times,” Duggan states.
Having an equity stake in these businesses, a successful exit offers substantial financial rewards, both for Duggan and the proprietors.
Duggan’s recent windfall involved an equity stake in Nutrabolt, where he was instrumental in establishing a beverage segment in 2018. Nutrabolt is a recognized manufacturer of nutritional aids like powders, tablets, and supplements that boost sports performance, stamina, and recovery. Duggan played a key role in the firm’s venture into the retail beverage sector with the launch of an energy drink named C4.
Following these efforts, the company secured a hefty investment from Keurig Dr Pepper Inc in a strategic collaboration.
Duggan notes, “Starting from scratch, we propelled the C4 brand to become the fourth most popular energy drink in the US.”
“I’ve just withdrawn from that business to scout for the next big type and company to become a part of and mould. There’s a sea of brands, many fantastic concepts and enthusiasm, yet in numerous instances, there’s a lack of knowledge about how to monetise their dreams. That’s where my speciality lies.”
The European markets, in Duggan’s view, typically surpass the US when it comes to draft systems, healthier tendencies, sugar reduction, and more eco-friendly packaging. The beer market on the whole is reporting a slowdown here.
Duggan greatly relishes his sojourns back to Ireland where he spends time with his relatives in Galway. However, these periodic trips do not change the fact that he and his American-born spouse, Beth, consider Philadelphia their true home. Despite his deep-rooted ties to the USA, he does confess that close-knit kinship in Ireland is one treasure he yearns for while away, particularly his mother’s delectable cuisine, which both he and Beth look forward to during their annual vacations to Ireland.
After spending over two decades in the U.S., Duggan has built a rich history and an enthralling career. Post-college, Duggan set out for London, where prior to moving across the pond to the U.S. in September 1995, he was a salesperson for three years. Philadelphia was the city he elected to remain in after relocating to the U.S.
In terms of employment, his first assignments involved managing bars and restaurants. Subsequently, he was a part of Guinness Bass Import Company for close to a decade before he decided to depart in 2009. Progressing from one brand to another and relishing the constant influx of new challenges is Duggan’s vocational passion. He is steadfast about not desiring a regular corporate position in his chosen homeland, even as he ponders what the future holds.
Being at the vanguard of fresh initiatives gives Duggan a distinct edge, as well as a more profound grasp of the consumer and retail sectors. It empowers him to stay on his toes and retain his ambitious drive.
His next ambition is to venture into the beverage industry’s niche segment of non-alcoholic beers, an area he perceives as nascent in the U.S. He’s intrigued by brands such as Heineken and Guinness, who have carved a niche for themselves in the European non-alcoholic market, and sees a parallel potential for the U.S market.
According to Duggan, in terms of advancements, the U.S. beverage market trails behind Europe. Europe often pioneers implementing draught machinery upgrades, endorsing healthier trends, reducing sugar in beverages and endorsing eco-friendly packages. He expresses concern over the dwindling U.S. beer market.
An ardent sports enthusiast, Duggan often streams Irish rugby and GAA games. He stays fit by cycling and playing golf.
Duggan and his wife, Beth, relish the cosmopolitan life in Philadelphia, which with a population of approximately 1.5 million, is the fifth-largest US city. During the 20th century, the city underwent a significant low point, however, extensive urban rejuvenation over the recent years has amplified its appeal. The couple resides in the downtown district of Queen Village, which has a pleasant atmosphere.
Across the years, I’ve pondered relocating within the United States, yet no other location has caught my fancy. There’s something truly distinctive about Philadelphia. It’s a major city, complete with all its accompanying features. It’s alive with a dynamic arts culture and boasts an impressive range of pubs and restaurants. It has continuously functioned under the shadow of New York, which is something we have become fond of.