Joseph “Josie” McLoughlin has been running the bar for over 40 years but is ready to retire.
If your last name is McLoughlin, a unique opportunity awaits you on a remote island in Ireland.
The McLoughlin's Bar, located on Achill Island, was first established in 1870. The same family has run the 155-year-old pub for four generations, and its current owner, Joseph "Josie" McLoughlin and his partner, Jackie, are officially retiring. Now they're looking for another McLoughlin to takeover.
"I have no one to leave the pub to, and I'd resigned myself to looking for a buyer outside the family and seeing my name being lost to history. That would just break my heart. The name McLoughlin is woven into the very fabric of this pub," McLoughlin says in a press release shared with CNBC Make It.
"The past 50 years have been incredibly fulfilling for me and I'd love to see that story continue, finding a McLoughlin descendant to take it forward. If I could guarantee the McLoughlin name would still be above the door of the pub in another 155 years, I'd die a happy man."
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The bar partnered up with beer brand Heineken to find their next landlord. Heineken has launched billboards across cities with high numbers of Irish immigrants, including New York, Boston, Buenos Aires, Auckland, and more, to try to find a McLoughlin.
Heineken also plans to finance a "succession package" to help the new landlord get started. The package will include investment guidance, mentorship and business support "to ensure the pub remains a thriving part of the community."
Money Report
Heineken started the search for the next McLoughlin earlier this month with no end date currently listed. To apply for the position, interested parties must fill out a form online at pubsuccession.com and wait to hear back from the beer brand.
The terms and conditions state that the McLoughlin that gets picked to run the bar will be responsible for paying all taxes, insurance, fees and surcharges. They will also have to agree to share their identity publicly and do videography and photographs for advertising and/or promotional purposes.
Heineken also says the selected participant will be responsible for doing their own due diligence of the McLoughlin Bar and evaluate the business.
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