Articles published under the media release byline are news produced by the relevant business and remain unedited by Brews News. This release was posted to the ASX by Founders First.
Founders First Limited (ASX: FFL) (“the Company”) is pleased to announce a partnership agreement with Mr Chris Malcolm, former CEO of ASX listed Australian Whisky Holdings and former Chairman of Lark Distillery, to develop and co-invest in a new whisky business currently named NewCo Pty Ltd.
The agreement includes the purchase and rebranding of 68 barrels (just over 7,400 litres) of maturing “new make” whisky stock which was originally distilled at Nant Distillery in the Tasmanian Highlands. Each barrel has been inspected, weighed and checked for alcohol content, and is of high quality. The first small batch release of this stock is planned for December 2020.
Earlier this year the Company also acquired Kangaroo Island Distillery one of Australia’s first dedicated gin distilleries, which has plans to further extend its product portfolio including a much-anticipated release of its first batch of single malt whisky, also planned for December this year.
Founders First CEO and Managing Director Mr Mark Haysman says “Whisky is the largest spirits category in Australia and growing in popularity globally. Our combined position with NewCo and Kangaroo Island Distillery along with our sales and distribution capability places us in a strong position to scale and grow in this exciting category in both domestic and export markets. Both businesses have strong whisky credentials and capabilities to barrel age premium offerings that originate in two of the most respected craft provenances in Australia – the pristine altitudes of the Tasmanian highlands and unspoilt natural surrounds of Kangaroo Island. Few people know the business of whisky better than Chris. We look forward to working with him to bring our new Whisky vision to life.”
Mr Chris Malcolm says “Having a passion and long-term association with the whisky industry I am looking forward to working with the Founders First team to realise our shared vision of building a high quality globally recognised whisky brand. It’s exciting to be part of building a new brand which already has access to such high quality whisky in barrels, some of which will be ready for release as early as December this year. We are fortunate to have 12 Barrels in Virgin White Oak which were part of the Nant exclusive program, the only one of its kind in Australia using Virgin White Oak. A 500ml bottle of this whisky retails for around $400 a bottle.