18/03/2025 14:28:52
Top Shelf International Holdings Ltd (TSI) has finalized the sale of its Campbellfield production facility to Idyll Wine Co Pty Ltd (IDL) for $8 million, as announced on the ASX. The sale includes all operational and production assets at the Campbellfield site, encompassing canning and bottling lines, brewhouse, distillery, and a portion of excess bulk whisky inventory. Excluded from the transaction is TSI’s whisky maturation and warehouse facility in Somerton.
The proceeds from the sale will be strategically allocated towards transaction costs and debt reduction, with a significant portion earmarked for addressing the Company’s outstanding ATO excise liability. Following the completion of the sale, Top Shelf plans to enter into a co-packing agreement with IDL to ensure the continued production of its branded products. This arrangement is intended to maintain supply chain continuity and product availability.
Completion of the sale is anticipated in March 2025, contingent upon meeting standard conditions precedent, including the novation or assignment of associated property leases and a property license. This divestment marks a strategic move for Top Shelf to streamline its operations and strengthen its financial position by reducing debt. The co-packing agreement with IDL is designed to provide a seamless transition for production and maintain Top Shelf’s market presence.
Top Shelf International, known for its premium Australian spirits such as NED Australian Whisky, Grainshaker Vodka, and Act of Treason Agave, continues to focus on developing and marketing its distinctive brands. The company is also progressing with its agave spirit range from its Queensland-based agave farm and distillery.