Australian Whisky Holdings (ASX:AWY) has acquired the historic Nant Estate in Bothwell, Tasmania including 76.11 hectares of land, historic homestead cellar door, atrium restaurant and bonded storage buildings.
In consideration for the acquisition, Australian Whisky has reached an agreement with the secured creditors of the vendor Nant Estate Pty Ltd.
Australian Whisky has agreed to pay the purchase price of $3.85 million and also acquire loans over various Nant entities having a face value of $2.5 million.
The agreement provides that Australian Whisky has the right to use and trade under the name Nant and that the vendor of the property will cease to use the name.
Australian Whisky has also entered into an agreement with the vendors to acquire the rights over mature barrels that have been distilled pursuant to a barrel investment scheme operated by the vendors.
The company intends to shortly make offers to investors for the acquisition of mature barrels.
Australian Whisky’s shares were last trading 9% higher intra-day on Friday, at $0.036.