Australian Agave is playing a major role in Top Shelf International's plans.

Top Shelf International (TSI) has successfully completed its fully underwritten institutional placement of new fully paid ordinary shares, and institutional entitlement offer, to raise approximately $22m.

The placement sees TSI issue around 5.8 million new shares, to raise approximately $9.3m, while the entitlement will see 7.9 million new shares issued, raising around $12.6m.

TSI said the proceeds raised under the offer will be used to fund the company’s strategic growth objectives of:

Delivering Australia’s first integrated agave spirit production facility at scale

Aggressively scaling and accelerating the NED Whisky and Grainshaker Vodka brands

Building ‘best in class’ digital and data technologies including direct to consumer channels

Increasing efficiencies and utilisation through investment in supply chain and warehousing solutions.

The agave spirit distillery will be based at Airlie Beach in Queensland and will have a capacity of 1.5 million bottles of Agave spirit per annum, which will make TSI the world’s largest distiller of agave spirit outside of Mexico.

When at full capacity, the size of the farm will place TSI in the top 25 agave producers in the world, and the company already has 500,000 agave plants in the ground or in nursery.

TSI has already appointed Trent Fraser, an ex-LVMH President, to run the agave project. In four years, Fraser built Volcan De Mi Tierra Tequila to be among the top five super premium tequila brands in the world.

In addition to the agave distillery, TSI has $123m of whisky in oak barrels that is nearing maturity, which it claims is the largest inventory in the country. The value of what whisky inventory is $71.40 per litre, up 23 per cent on last year. 

Andy Young

Andy joined Intermedia as Editor of The Shout in 2015, writing news on a daily basis and also writing features for National Liquor News. Now Managing Editor of both The Shout and Bars and Clubs.

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