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Top Shelf International Holdings Ltd. ( (AU:TSI) ) has provided an announcement.
Top Shelf International Holdings Ltd has announced the sale of its Campbellfield production facility to Idyll Wine Co Pty Ltd for $8 million. This sale includes the facility’s operational assets but excludes the whisky maturation and warehouse facility at Somerton. The proceeds will be used to cover transaction costs and reduce company debts, including an ATO excise liability. Top Shelf plans to enter a co-packing arrangement with Idyll Wine Co for its branded products post-sale, which is expected to complete in March 2025, pending customary conditions.
More about Top Shelf International Holdings Ltd.
Top Shelf International is a Melbourne-based distiller and marketer of premium Australian spirits, known for brands such as NED Australian Whisky, Grainshaker Hand Made Australian Vodka, and Act of Treason Australian Agave. The company is recognized for its high-quality products and innovative spirit production, including the development of Australia’s first agave spirit range from its farm in The Whitsundays, Queensland.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$13M
See more insights into TSI stock on TipRanks’ Stock Analysis page.