Deal profile | Gadens advises Lark Distilling on capital raise and strategic partnership with Seppeltsfield Wines

Gadens has advised Lark Distilling Co. Ltd (ASX: LRK), Australia’s leading distiller of single malt whisky, on a $25 million equity capital raising and strategic partnership with Seppeltsfield Wines.

The equity raise comprised a non-underwritten institutional placement ($6.5 million), a conditional placement to certain related parties ($15 million) and a share purchase plan ($3.5 million).

Gadens advised on all aspects of the transaction including the capital raise, shareholder approval process and strategic partnership with Seppeltsfield.

Lark plans to invest the proceeds of the capital raising in their brand and facilities to support the growth of their export strategy while the partnership will provide Lark with access to Seppeltsfield Wines’ premium oak barrels.

Gadens has supported Lark for a number of years on a range of transactions, including its previous acquisition of Pontville Distillery and Estate and associated capital raising in 2021.

Jol Rogers, who led on the transaction, said: “We enjoyed collaborating with the Lark team on this deal and are thrilled to watch Lark’s continued success as the company advances its growth strategy in partnership with Seppeltsfield Wines.”

Practice groups: Corporate

Value: $22.5 million

Key team members: The transaction was led by corporate partner Jol Rogers and supported by Gary Lim (Special Counsel) and Elizabeth Gregory (Associate).