Act of Treason celebrates 12-month anniversary with launch of Extra Aged

Twelve months after launching Act of Treason Australian Agave Spirit, Top Shelf International has unveiled Act of Treason Extra Aged, an agave spirit that emulates the añejo tequila style.

Aged in ex-Australian whisky barrels, Extra Aged features familiar notes of cooked agave, cut grass and lime layered atop rich vanilla, caramel and oak.

According to the distillery, the tropical ageing conditions of Act of Treason's Whitsundays homeland contribute increased flavour extraction from the oak, resulting in a spirit of depth and complexity that is reflective of its unique environment.

The Extra Aged release follows on from strong momentum for the Act of Treason brand, which in its debut year was named the World’s Best Specialty Spirit at the World Drinks Awards and Australia’s Champion Alternative Spirit at the Sydney Royal Spirits Competition.

It was also recently recognised by The Spirits Business as the sixth most innovative global launch of 2024, positioning it as the top-ranked agave spirit on the list.

“There is no doubt the spirits world has taken notice of Act of Treason in its first year,” said Trent Fraser, CEO.

“Everything we do is inspired by the traditions of tequila but brought to life through Australian ingenuity and unique terroir that our location offers us … Our farm is our slice of paradise and we’re relishing in the opportunity of exporting paradise to the world.”

Along with Act of Treason’s Blanco and Reposado spirits, Extra Aged is produced using agave tequilana sourced from Top Shelf International’s Eden Lassie farm. This is then twice distilled in copper pot stills, with Reposado and Extra Aged then being placed into ex-Australian whisky barrels for differing lengths.

The first of its kind on the market, Act of Treason is the most important brand in Top Shelf’s portfolio and stands as a proof of concept in an agave market that IWSR analysis believes will grow at a CAGR of 7-9% up until 2027. In FY24, Top Shelf International invested $6 million into its Australian Agave program, or almost two thirds of its overall $9.3 million spend, adding to the $7 million it invested into Agave in FY23. As a result, its sales volumes in Endeavour Group stores have grown 36% following its successful national ranging debut in July.

“We’re approaching this as an opportunity to create something new and expand the horizons of a category that has been geographically limited for centuries,” said Trent Fraser, CEO.

“Act of Treason symbolises the pioneering spirit of a project that will create a new region of agave spirit. The dry tropics of north Queensland are the ideal place for that to occur.”

Despite this success, Top Shelf International has grappled with accumulating debt pressures over the past few years. Over the course of the 2024 calendar year, Top Shelf’s share price dropped 81.82%, leading to it halting share trading in late September. Since launching onto the stock market in late 2020, Top Shelf's share price has dropped from $2.21 to just $0.04 each.

In early December, Top Shelf International announced it had enlisted EY's Melbourne Mergers and Acquisitions team for advice regarding the sale of some or all of its assets, a process that remains ongoing.

“The Company is in the process of negotiating with its senior lender and its largest creditors, but as a result of those continuing negotiations will not be in a position to release audited financial statements,” wrote a spokesperson for Top Shelf International ahead of the AGM.

“The Company continues to progress discussions with a number of parties regarding the provision of funding and potential transactions to address its short- to medium-term operating needs and the repayment of outstanding creditors.”

Act of Treason Extra Aged is now available via its website at $130 per bottle.