By Andy Young

Australian Whisky Holdings (AWH) has announced it has entered into an agreement to buy the Nant Distillery business and the Nant Estate, from the Nant Group.

The deal will see AWH acquire the distilling business and estate for $3m in cash plus the assumption of debts and liabilities for an amount of approximately $5.5m. There are still some conditions that will need to be met before the deal can commence, which include but are not limited to:

  • AWH completing the legal and financial due diligence on the Nant Group
  • AWH obtaining the necessary approvals of its board and shareholders
  • AWH completing a capital raising for purposes of raising a minimum of $3m.

Terry Cuthbertson, the Chairman of AWH, said: “The acquisition of the Nant Distillery business and the historic Nant Estate is a further milestone towards AWH’s vision of having ownership interests in a number of premium single malt whisky producers and distributors in Australia, focusing in particular in Tasmania.

“AWH proposes to accelerate growth in the craft whisky industry ahead of competitors and take a leadership position in the industry. In doing so, AWH intends to lead the structuring and development of, and be instrumental in, defining the final shape of the craft whisky industry in Australia and maintaining Tasmania’s leadership position in this industry.

“We believe that by doing this, we will provide the current craft producers a platform to increase volume and we will give each brand an ability to increase profits and distribution into the higher margin markets in Asia.”

The Nant Group currently produces whisky products which include the Nant Single Malt Whisky at the distillery on the Nant Estate, which also operates the Nant Atrium Restaurant. AWH currently has a shareholding interest of 31.66 per cent in the Lark Distillery and in March bought a 12 per cent shareholding in Redlands Estate

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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