By Andy Young
Australian Whisky Holdings (AWH) has announced that it has finalised an agreement to buy an equity interest in Tasmanian single malt whisky producer Redlands Estate Distillery.
Redlands is known as Australia's only paddock to bottle single malt distiller and AWH's initial investment will be $300,000, which will acquire a 12 per cent interest in Redlands.
In a statement to the ASX, AWH's company secretary Kenneth Lee said: "Redlands' paddock to bottle philosophy of growing its own barley contributes to the specialness and overall quality of its premium, single malt whisky. The distiller and cellar door have recently been relocated to historic Dysart House at Kempton, a heritage coach house in Tasmania's whisky heartlands.
“In addition to the distiller and associated equipment, Redlands' assets include approximately 7000 litres of aged single malt whisky in barrels."
Redlands initially had six shareholders, one of whom is Bill Lark, the founder of Lark Distillery and widely considered to be the godfather of Australian whisky.
Lee added: "The acquisition of this equity interest in Redlands represents a logical extension of the overall business strategy AWH is pursuing in the Australian craft whisky industry. That is, of partnership with selected with selected distilleries through equity participation, assisting the growth of these partners through the financing of their inventory of barrels of their 'new make' and in developing export sales of their branded product, primarily in the emerging markets of Asia."