Passage East Ferry Company Put On The Market

Passage east ferry company put on the market

The Passage East Ferry Company has been put up for sale. The car ferry service, which connects the villages of Passage East in Waterford with Ballyhack in Wexford, is to be sold as a going concern. The company has been in operation since 1982 - running on the River Suir. The sale includes a 28-vehicle ferry and a commercial premises at Barrack Street in Passage East. The ferry can carry up to 130 passengers, connecting Waterford City with the Hook Peninsula in Wexford and operates throughout the year - seven days a week. The company has an annual turnover of around 1.6 million euro - with passenger numbers increasing by 5 percent last year. The company will be sold as a going concern and the decision to sell comes as founding shareholder, Derek Donnelly, retires from the business. FBD Holdings plc holds a 70% share in the business. The company employs 16 full-time staff - all of whom are unaffected by the sale.