The owner of Ned Australian Whisky, the ASX-listed distiller Top Shelf International, is courting buyers for all or some of its business, with several interested parties conducting due diligence, sources said.
Top Shelf shares have been suspended from trade since September, having already slid 78 per cent this year. The Melbourne-based company only listed on the bourse in late 2020. Now it has called in EY’s Melbourne M&A team to explore its options and is in the second stages of the sale process.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com