ASX-listed Lark Distilling soars to over decade high on distillery acquisition

Lark Distilling

19/10/2021 04:31

** ASX-listed shares of Lark Distilling Co  LRK.AX  jump as
much as 10.67% to A$5.6, their highest level since Feb. 1, 2010
    ** Trading in stock halted on Monday 
    ** Stock set for biggest single-day pct climb since July 7
    ** Tasmanian whiskey distiller says it has entered binding
agreement for acquisition of Kernke Family Shene Estate, owner
of Pontville Distillery and Estate  urn:newsml:reuters.com:*:nASX4hYTVN 
    ** Deal consideration of A$40 mln ($29.77 mln)
    ** Co to construct new 1 mln litre distillery on acquired
land, expected to accelerate Lark's export strategy
    ** Lark also reported Q1 net sales were up 80% to A$4.1 mln
 urn:newsml:reuters.com:*:nASX9qtpWm    
    ** About 5.8 mln shares have changed hands, compared with
the 30-day average of about 66,000 shares 
    ** LRK up 248.97% so far this year, as of Friday's close 
    



($1 = 1.3437 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))