Brix Distillers seeks AU$15m for Sydney site
Australian rum producer Brix Distillers is aiming to raise AU$15 million (US$10.1m) to build a new distillery in Sydney.
Established in 2017, the premium rum brand is looking to ‘reinvent Australian rum culture’, as consumer demand for premium rum increases and in light of Brown-Forman’s recent purchase of Diplomático Rum and Don Papa being acquired by Diageo. Diplomático is the first rum to join Brown-Forman’s portfolio.
The AU$15m funding round will be put towards the full construction of a new ‘state-of-the-art’ rum distillery in Sydney, with increased production capacity to account for third-party contract manufacturing.
The new distillery will see production capacity reach one million litres of rum annually to meet ‘surging’ local and international demand.
Founded in 2017, Brix Distillers currently produces premium rum at its distillery in Surry Hills, Sydney. In the past four years the producer has seen its revenue growth rate reach 60% per year.
Aside from limited edition bottlings, the rum is matured in Australian wine barrels.
Following the funding round, the craft rum brand will aim to expand its domestic footprint and gain access to numerous key export markets.
For more on international rum-based trends, read our World Spirits Report 2022: Rum.
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