NED Whisky inventory grew by 46% in the March quarter, with nearly 1.4 million litres now on hand.
At 31 March 2021, we had 1,386,700 litres on hand (at 40% ABV) with a net wholesale value of more than $88.1 million, making it what we believe is the largest reserve of whisky under maturation for a single brand in Australia.
To help support the 437,085 litres laid down in the quarter, we recently opened a second NED Barrel House in Melbourne to increase TSI’s total whisky maturation capacity to more than 2 million litres.
With the original barrel house now a capacity, this new facility has more than doubled TSI’s whisky storage capacity on oak, and completes the envisaged whisky production and storage capacity of our distillery and maturation facilities.
To support this increase in capacity, TSI flew three specialist coopers from Italy to Melbourne in late March to construct 13 large oak vats. Following a two-week quarantine period, the coppers were on site for three weeks constructing vats that deliver an additional storage capacity of 193,000 litres.
The large vats are part of TSI’s innovative maturation program which seeks to develop proprietary processes using a variety of vat and barrel sizes to deliver NED Whisky’s target flavour profile and price point.