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Corby Spirit and Wine to acquire The Foreign Affair Winery
Corby Spirit and Wine to acquire The Foreign Affair Winery Canada NewsWire TORON...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n\n\n\nCorby Spirit and Wine to acquire The Foreign Affair Winery\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 25, 2017\n\n\n\nTORONTO, Aug. 25, 2017 /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A, CSW.B), a leading Canadian manufacturer, marketer and distributor of spirits and imported wine, announced today that it has entered into an agreement to acquire all of the shares the winery and assets of the vineyard, which together operate as the Foreign Affair Winery (\"Foreign Affair\"), a Niagara, Ontario-based VQA wine producer for a purchase price of $6.2 million, to be paid in cash. The transaction will result in Corby's acquisition, through a wholly-owned subsidiary, of Foreign Affair's portfolio of premium award-winning Ontario red, white and rose wines, including Temptress, Enchanted, Amarosé and The Conspiracy brands, as well as related production assets and inventory. The transaction is expected to close on September 29, 2017, allowing for a smooth transition and customary conditions.\n\nFounded in 2000 by Len and Marisa Crispino, Foreign Affair operates a 40-acre vineyard located in Vineland on the Niagara peninsula. Foreign Affair sells its products through a variety of channels including directly from its on-site retail store, to wine club customers, and through the LCBO and SAQ. Foreign Affair is recognized as the first Canadian winery to craft wines exclusively applying the Italian appassimento technique for winemaking, which produces denser and more concentrated juices. The winery also offers tastings on-site to members of the public and private dinners, as well as exclusive offers through private membership in its wine club.  \n\nThe brand portfolio and other assets acquired by Corby will continue to operate from Foreign Affair's current location in Vineland, Ontario. As part of the transaction, Len and Marisa Crispino will continue to remain involved following closing, together with the existing Foreign Affair team.   \n\n\"We are very excited to announce this transac...