Ballarat distillery, Itinerant Spirits, has opened expressions of interest for its upcoming equity raise through OnMarket. Since launching in October 2023, the company has sold over 40,000 bottles of its vodka and gin, and is planning to release its first whiskey soon.
Itinerant Spirits is ready to take the next step in its journey and is inviting new shareholders to hop on board. The company plans to use the funds raised to add a kitchen and dining experience to its Ballarat distillery, expand its e-commerce base, and develop an RTD range.
With revenue already coming in through its distillery and bar, wholesale distribution, and direct-to-consumer e-commerce sales, Itinerant is also developing a range of ready-to-drink (RTD) products.
“While our whiskey matures in cask, our gin and vodka lines are growing nationally, supported by a loyal customer base and repeat visitation at our destination venue,” stated the company.
“Our long-term strategy is to evolve beyond the bottle. We are developing a range of lifestyle and travel products designed to extend the brand into new markets, creating multiple paths for scalable, sustainable growth.”
The company’s most recent release was three signature flavoured spirits under its Vansetter Vodka brand – Habanero & Lime and Cucumber & Mint Vodka, and a Triple Sec liqueur.
Itinerant Spirits co-founder, Brad Wilson, said the company was building up to be the next great Australian spirits brand.
“What we’re building right here is more than just a drink – we’re building Itinerant Spirits as a real brand experience,” said Wilson.
“That vision has seen us grow really quickly. Today, we're almost a $2 million per year business… So jump on as a shareholder today and help us write our next chapter.”
Expressions of interest are now open at onmarket.com.au.
