Beverage company, IDL, has acquired Top Shelf International’s Campbellfield factory for $8 million. The sale includes all operational and production equipment, including bottling and canning lines, brewhouse and distillery.
TSI has also agreed to sell a portion of its excess bulk whisky inventory to Idyll, but TSI will retain its whisky maturation and warehouse facility in Somerton.
Proceeds of the sale will go towards paying down debt, including TSI’s outstanding excise liability to the Australian Taxation Office.
TSI said it intends to enter a co-packing arrangement with Idyll for its branded products. Its brands include Ned Whiskey, Grainshaker Vodka, and Act of Treason Australian Agave.
At the end of last year, TSI enlisted the M&A team from EY to sell some or all of the business.
IDL (formerly Idyll Wine Co.) is a family-owned beverage solutions provider, based in Moorabool, near Geelong, Victoria. It develops, produces, packages and distributes alcoholic beverages including wine, cider, seltzer, ready-to-drink spirit products and non-alcoholic products.
The Moorabool facility includes a 21.14 million litre tank farm, a fully operational cellar incorporating the latest technology (including two cross flows, an omnia, presses, crush pad, and a float), and packaging facility that includes two glass bottling lines, two canning lines, and a keg line.
IDL makes more than 21 million bottles of wine a year under different labels. Its signature Idyll Victoria range comprises "fruit-forward wines in classic styles, using grapes sourced from across Australia’s southeast".
