Business
Corby Spirit and Wine Limited to Acquire Ace Beverage Group
Corby Spirit and Wine Limited to Acquire Ace Beverage Group Canada NewsWire ...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Spirit and Wine Limited to Acquire Ace Beverage Group\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Transaction adds C\n \n \n \n \n anada's fastest growing RTD brand to Corby's dynamic portfolio\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 12, 2023\n \n \n /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A) (TSX: CSW.B) today announced it has signed a definitive agreement (the \"Transaction\") to acquire 90% of the outstanding shares of Ace Beverage Group Inc. (\"Ace Beverage Group\" or \"Ace\") for\n \n $148.5 million\n \n .\n \n \n \n \n \n \n \n \n \n With roots dating back to 2013, Ace Beverage Group has achieved consistent high double-digit growth to become a Canadian RTD leader. Its flagship brand, Cottage Springs, is the leading ready-to-drink (\"RTD\") brand in\n \n Ontario\n \n , with a strong positioning in key category segments and bestsellers that include, Cottage Springs Vodka Soda, Vodka Water and\n \n Tequila Soda\n \n . Ace also boasts a rich and diversified portfolio of other innovative brands, such as\n \n Ace Hill\n \n , Cabana Coast and\n \n Liberty Village\n \n .\n \n \n The transaction adds significant scale to Corby's portfolio in the high-growth RTD category. Additionally, the Ace team brings to Corby a deeper understanding of the category and its consumers, along with agile innovation capabilities and execution excellence.\n \n \n \n \n COMPELLING STRATEGIC AND FINANCIAL BENEFITS\n \n \n \n \n \n \n Expansion into the large, fast-growing, and highly attractive RTD segment\n \n , where RTDs have significantly outperformed other categories in the beverage alcohol market and continue to exhibit a vast runway for future growth.\n \n \n \n Adds Cottage Springs, the #1 RTD brand in the Liquor Control Board of\n \n Ontario\n \n (\"LCBO\"),\n \n along with other industry-leading brands\n \n Ace Hill\n \n , Cabana Coast and\n \n Liberty Village\n \n to Corby's dynamic product portfolio.\n \n \n \n Combines two companies...