Top Shelf International (TSI) has confirmed a strategic restructure following the successful completion of a capital raise and the sale of its Campbellfield facility to Idyll Wine Co Pty Ltd (IDL) for $8 million, which will enable the business to fully clear its outstanding obligations with the Australian Taxation Office.

The producer of NED Australian Whisky, Act of Treason Australian Agave Spirit and Grainshaker Australian Vodka, has entered into a co-packing agreement with IDL moving forward to ensure uninterrupted production of the brands,

TSI said the divestment of the Campbellfield site would significantly reduce its operational overheads and strengthen its ability to focus on building its world class brands.

The agave farm in North Queensland which produces Act of Treason will continue to be operated by TSI.

As part of this transaction, the business has announced it will undergo a strategic restructure aimed at positioning TSI for long-term growth and improved efficiency.

“All affected staff will receive their full entitlements, and TSI extends its gratitude for their contributions to the business,” the company said.

TSI made an announcement to the ASX this morning that Trent Fraser will step down as CEO following a six-month transition period, commencing today. Board Chair Julian Davidson has been appointed Acting Executive Chairman.

Additional announcements are anticipated to be made over the coming days and weeks, setting out the ongoing strategic direction of the company.

During the internal changes, TSI said it remains business as usual across all operations. There will be no disruption to supply through any channel.

“TSI enters this next chapter from a position of incredibly strong brand momentum. In 2025, NED has recorded sales growth of up to 600% in key sales channels, including direct-to-consumer, while flavoured whisky Golden Bickie by NED is enjoying rapid ranging and sales growth.

“Act of Treason, the company’s Australian agave spirit, continues to build category leadership and recently received a Gold Medal at the World Drinks Awards in London. It will be considered for World’s Best, to be announced at a ceremony in London early June.

“Festival favourite Grainshaker continues to be the go-to first pour for cocktail bars and it’s RTDs found at major events around the country.

“TSI remains committed to its mission of challenging global spirits brands with bold, distinctive and world class Australian spirit.

Acting Executive Chairman Julian Davidson said, “I am looking forward to guiding the company into the future.”