Fallon brothers cash in €240 million from Distilled stake sale to BlackSheep

Eamonn and Brian Fallon, who turned a 1997 school project into the Daft.ie property portal, have now realized a €240 million payout from the sale of a controlling stake in their Distilled Media group to BlackSheep. Consolidated accounts show the deal valued Distilled at €627.4 million, with the brothers receiving €137.8 million in cash and €177.6 million in shares while retaining a 33.3 percent stake. Their journey began with a Dublin City Enterprise Board competition, grew through the Irish housing boom, and included earlier investments from Tiger Global and a 50:50 partnership with Schibsted that merged Daft.ie with DoneDeal.ie.

The brothers remain active, with Eamonn as chief executive and Brian serving on the board and overseeing the online news site one outlet. They say each strategic partner has strengthened the group and they plan to keep investing in its platforms.