Award-winning South Australian distillery, Prohibition Liquor, has undertaken one of the state’s largest equity crowdfunding raises, aiming to raise $4 million with support from its enthusiastic fanbase.
Founded in Adelaide in 2015, Prohibition has become a phenomenon both locally and internationally, winning over 200 awards for its products and being stocked in over 2000 retail locations.
With an increasing trend of international buyers acquiring Australian spirits brands, South Australians are rallying to ensure Prohibition remains Australian owned and operated. The Expression of Interest (EOI) phase garnered nearly $15 million in potential investments from nearly 4000 supporters.
Source: Prohibition Liquor
The private round for the raise, which is being run by OnMarket, went live yesterday morning (27 February) at 10am Adelaide time.
Prohibition Liquor founder and CEO, Adam Carpenter, said the company is incredibly proud to be the first-ever liquor business in South Australia to launch an equity crowdfunding raise.
“Our customers have always been the reason we are as successful as we are, and now they can truly share in our success by becoming part-owners of Prohibition. We are proud to have won every major gin trophy in Australia over the past 12 months,” said Carpenter.
“Being foreign-owned would jeopardise the unique formula that has put us on the global stage. We don’t want corporate bean counters diluting what makes Prohibition so special. We only want to answer to our loyal customers – who can now also be our part-owners.”
The raise will support Prohibition’s expansion, as it is in the process of reviving the historic 147 year old Seppeltsfield Distillery in the Barossa Valley – the second oldest still in the country. The project aims to transform the site into a production facility and tourism destination, with a tasting room and bar currently under construction.
Funds raised will also support international market growth in France, Japan, and the USA, as well as the expansion of its Gilbert Street tasting room and the launch of a new gin bar at McLaren Vale’s Penny’s Hill Estate.
The Australian record for a liquor industry raise stands at $4.3 million, achieved by Hellyers Road Distillery in May 2024. A target of $4 million for Prohibition will make this the second-biggest liquor equity crowdfunding raise in Australian history.
OnMarket managing director, Tim Eisenhauer, said Prohibition is on track to set records for 2025, and expects the results to be exciting to watch.
“What truly sets this raise apart is that it’s the first time a liquor company in South Australia has gone through this process. The response from South Australian investors has been massive, which isn’t surprising – Prohibition Liquor Co Pty Ltd is a quintessentially South Australian brand,” said Eisenhauer.
“The idea of it being sold to a foreign entity to fund its next stage of growth isn’t something South Australians want to see, and that’s why we’ve had some substantial local investors express interest.
“Hellyers Road and Prohibition Liquor Co Pty Ltd are cut from the same cloth – both have fiercely loyal customers who double as staunch investors, and that’s exactly what we’re seeing in this equity crowdfunding raise. When OnMarket raised $4.3 million for Hellyers Road in May 2024… it was a testament to the power of brand loyalty in the spirits industry,” he said.
