One of Derry City’s best known pubs has been bought by the Downey group in a multi-million pound deal.
Peadar O’Donnell’s on Waterloo Street had been owned by Phil Nolan and William McGuinness, the brother of the late Sinn Féin leader Martin McGuinness.
The value of the deal has not been disclosed, but it’s understood the hospitality group, headed by Derry’s former all-Ireland winning captain Henry and his brothers Seamus and John, paid just over £5 million for the pub complex, which includes The Gweedore Bar and nightclub Fifty Seven Waterloo St.
The Downey’s officially took control of the pub and its licence on Friday.
It comes less than a year after the family-run hospitality business bought Kelly’s Cellars in Belfast city centre for a similar price.
The pub group’s portfolio includes McHugh’s, The Kitchen Bar, Thirsty Goat, 21 Social and Hellcat Maggies in Belfast, and Metro and a second Thirsty Goat venue in Derry City.
The Downey’s sold their Magherafelt pub to another Derry pub family, the McGlones in 2023.
Peadar O’Donnell’s is their third pub in the city.
The award-winning venue, named after the Donegal-born Irish republican and socialist radical, is a popular haunt for musicians and well-known for its traditional Irish sessions.
It’s understood the outgoing owners, who are both aged in their late 60s, have retired from the pub trade.
Speaking to The Irish News, the Downey group’s marketing manager, Michele Downey, said: “We are now the very proud new owners of Peadar O’Donnells and The Gweedore bar.
“We have been in Derry City for 25 years now, we originally opened Sugar Nightclub in 2000.
“We’ve built up good relations, made some good friends along the way, and we feel very comfortable in Derry City.
“We’re just delighted to own such an iconic bar in the city centre.”
The Downey group said the handover had been seamless, and punters can expect the same style, atmosphere and entertainment that Peadar’s has become known for.
“Like Kelly’s Cellars, Peadar O’Donnell’s is known both nationally and internationally,” added Michele.
“We just want to keep things as they are. Nothing is broken, so nothing needs fixed.”