Brown-Forman, the company that owns American whiskey brand Jack Daniel’s, is buying in on Slane Castle Irish Whiskey with a $50 million investment.

This investment includes the construction of a brand new distillery on the grounds of historic Slane Castle in Co. Meath (home to the annual Slane Music Festival), and the creation of 25 new jobs, the Irish Times reports.

The Slane Castle estate is currently owned by the Conygham family, who launched the Irish whiskey brand in 2009. It was distilled for them by Cooley Distillery until Cooley was purchased by US company Beam Suntory (which makes Jim Beam bourbon) in 2012.

The $50 million investment, which secured Brown-Forman all of the shares in Slane Castle Irish Whiskey, will go towards the construction of a new distillery in the castle’s old stable yards, with building work set to begin in the next two months.

The new Slane Castle Irish Whiskey will enter the market in 2017.

Lord Henry Mountcharles confirmed that the Conygham family would still be a crucial part of the operation following the purchase.

“The family will remain at the core of the business into the foreseeable future. This is a very long-term partnership and I am incredibly excited,” he commented.

“This is a major boost for tourism in the whole Boyne Valley region and there will be 25 permanent jobs created. That is in addition to the construction jobs and this will have a significant positive knock on effect for guest houses, hotels and tourism in general,” he added.

“Irish whiskey has been one of the fastest growing segments in the global whiskey category over the last few years and we’re excited to be partnering with the Conyngham family as we build the new Slane Irish Whiskey Distillery and introduce new Irish whiskeys to the world,” stated Lawson Whiting, Executive Vice President and Chief Brands & Strategy Officer for Brown-Forman Brands.