AWH finalises deal to buy Nant Whisky

Nant whisky is finally back on track following Australian Whisky Holdings agreeing to pay $1.7million for the Nant whisky brand and equipment at the distillery.

It's been a tumultuous 12 months leading up to the sale of the award-winning whisky brand.

It was revealed last year that bankrupt former owner Keith Batt had used an unorthodox barrel investment scheme to fund the business. He offered investors the chance to buy two barrels of whisky for $25,000 with a guarantee to buy it back at maturation, for $36,007 (an attractive 9.55% return on investment). During the four years of maturation, the barrels were to be stored in Nant's bonded warehouse, with each barrel numbered for the investor. 

When AWH conditionally agreed to buy Nant and take on its $5.5m worth of debts and liabilities an audit of barrels revealed many were not filled or did not exist. 

It proceeded to finalised the purchase of the Nant Estate in Tasmania's central highlands in February 17, but the deal to buy the Nant distillery business fell through after a dispute over the sale price.

AWH chief Chris Malcolm expressed concern that Nant may need to be rebranded as the brand had been damaged.

But AWH issued a statement to the stockmarket this week saying it has struck a deal and "decanting and bottling will once again commence" at the Nant estate.  

AWH will manage the barrel investment scheme and has been negotiating with individual barrel investors to acquire the rights to the maturing whisky.

However, the Herald Sun noted: "The Sydney-based company is expected to encounter disquiet from barrel investors unhappy with the buyback arrangements or the audit process."