It is planned to keep the company and about 450 barrels of whisky - about 50% of that single malt - based in Oamaru's historic area where it was set up in 2005 by Warren and Debbie Preston, who will continue to operate and manage it.
With the capital injection by new investors from New Zealand, Australia and the United States, it is also proposed to expand the business to possibly include a distillery to produce a unique North Otago whisky.
However, to remain in Oamaru and start operating again, it will have to overcome a new interpretation by the Department of Labour of the regulations governing the storage of whisky.
If it cannot, the company will have to shift out of Oamaru, possibly to Dunedin.
Mr and Mrs Preston, along with the investors, have sought the help of Waitaki Mayor Alex Familton, Waitaki District Council chief executive Michael Ross and Oamaru Whitestone Civic Trust chairman Phil Hope through Waitaki MP Jacqui Dean with interpreting the new regulations.
They are determined to keep the company in Oamaru in the historic Loan and Mercantile building on the corner of Wansbeck and Harbour Sts.
The announcement of the company's revival was made yesterday jointly by Mr and Mrs Preston, Tasmanian businessman Greg Ramsay, who through his company InterGlobal Brands put the investment syndicate together, and Otago businessman John Evans.
Mr Ramsay, who is chief executive of InterGlobal Brands, and the syndicate bought all the assets of the New Zealand Malt Whisky Co, mainly the barrels of whisky stocks, after it was placed in receivership in February.
Mr Ramsay would not reveal the price, but said: "It was a price we were very comfortable with."
Mr Preston hoped the company could remain in Oamaru and difficulties with whisky storage regulations could be overcome.
"Oamaru can ill afford to lose an economic asset and drawcard like this," he said.
The Tasmanian connection came about in September last year, through Mr Evans' and Mr Ramsay's shared interest in golfing history, golf memorabilia, whisky and the historic links between Otago, Oamaru and Tasmania.
Mr Ramsay has an interest in Tasmanian boutique distillers and is investigating establishing distillers in other countries.
He met Mr and Mrs Preston and started to discuss the possibility of investing in New Zealand Malt Whisky.
That included a visit to Oamaru by Tasmanian Bill Lark, who established Lark Distillery in 1992 in Hobart.
Mr Lark was impressed with what he saw and tasted.
However, before that could be resolved, the company was placed in receivership.
Due diligence was carried out on the Oamaru company in March, which led to Mr Ramsay and the investors buying the assets from receivers WHK of Queenstown.
The purchase was finalised last week.
