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Just Wines acquires Liquor Loot business for AU$1.2 million
Eight months after buying alcohol-free drinks specialist Sans Drinks out of administration, Australian company Just Wines has added spirits company Liquor Loot to its portfolio.
Online craft spirit merchant Liquor Loot entered voluntary administration last month and has agreed to offload its business and assets to Sydney-based Just Wines in a deal worth AU$1.2 million.
Hoovering up companies that are sliding into administration may have become something of a business model for Just Wines, with the firm having followed the same path when it purchased alcohol-free brand Sans Drinks in August 2023 for AU$1.8 million.
A creditor’s report prepared by Jirsch Sutherland revealed that Sans Drinks had assets worth AU$287,308 at the time of the acquisition, but the brand owed creditors approximately AU$2.6 million.
The ink has now dried on a deal that will see Just Wines similarly rescue Liquor Loot.
“Adding spirits into our portfolio marks a new category for Just Wines, which positions us as a comprehensive liquor and beverage company,” said Just Wines founder Nitesh Bhatia.
He added that the acquisition would “broaden our market appeal and strengthen our competitive position.”
Liquor Loot was founded in 2016 with a unique offering that allows subscribers to try small samples of craft spirits before committing to purchase full-sized bottles. Members receive three 60ml samples or premium whisky, rum, gin and other spirits per month with more than 61,000 customers placing orders “in recent years”, according to Bhatia.
Fast-track to profitability
The craft spirit firm’s founder Joel Hauer said the acquisition will allow the business to move forward and “fast-track our path to profitability”.
“It offered us a unique opportunity to utilise Just Wines’ extensive warehouse facilities, leverage their logistics capabilities and benefit from their experienced staff and shared overheads,” he added. “I’m proud that the Liquor Loot brand will live on.”
Just Wines specialises in wines from Australia and New Zealand, including expressions from “the most isolated and fabulously beautiful wine regions”. However, it has recently expanded to offer craft beers from the likes of Capital Brewing, Hawke’s Brewing, Young Henry’s and BentSpoke.
Spirits now listed on its website range from the AU$250 The Macallan 12 Year Old Sherry Matured Single Malt Scotch to the ultra-premium AU$10,800 Cragganmore 1973 Single Malt Whisky 48YO 700mL Prima & Ultima III.
Furthermore, an auction section on the company’s website allows customers to bid on individual bottles or cases of wine.
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