Business

Bundy’s new brew is everyone's to share

LOCAL RUM: Distiller Rick Prosser with the first of the Waterview Limited 100 silver edition at Schmeiders Cooperage.
LOCAL RUM: Distiller Rick Prosser with the first of the Waterview Limited 100 silver edition at Schmeiders Cooperage. Mike Knott

PAPERWORK will be finalised today to allow Bundaberg's newest distillery to offer shares to the public.

Waterview Bundaberg brand manager Rick Prosser said the shares would be offered to the public early in the new financial year.

He said the company would be a public non-listed company.

Mr Prosser said the company could list on the stock exchange later, but at this stage it was not big enough.

The news came as Bundaberg Rum announced plans to move some of its operations to Sydney.

Mr Prosser is a former Bundaberg Rum master distiller.

"We've basically got everything in place," he said.

Mr Prosser said even if the share offer was under-subscribed it did not mean the company's operations would stop.

"We'll still be able to carry on," he said.

Waterview Bundaberg, which is being funded initially by businessman Matthew Drane, has secured premises near Schmeider's Cooperage and has already brought in 70 250-litre barrels.

Mr Prosser said rum would be only one of its products, with whisky and vodka also in its sights.

"We will be producing vodka that will be flavoured and carbonated vodka," he said.

"The first release to the public will be in a couple of months.

"Then we will go into mainstream products."

Mr Prosser said at this stage the minimum buy for shares would be set at $2000 each, with each share priced at about $40.

Marketing of the shares would be handed over to a brokerage firm, and the company's focus would be very heavily on regional Queensland.

Mr Prosser said the company planned to take advantage of Bundaberg produce for flavouring.

One line of vodka, for instance, would be flavoured with chillies sourced from local firm Austchilli.

Topics:  brewing business rum shares



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