Corby Spirit and Wine Announces Closing of Ace Beverage Group Transaction

TORONTO, July 4, 2023 /CNW/ - Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A) (TSX: CSW.B) announced today the closing of the previously disclosed 90% acquisition of the outstanding shares of Ace Beverage Group Inc. ("Ace"). The purchase price was paid using available cash and financing from Pernod Ricard, Corby's majority shareholder. In connection with closing of the transaction, Corby also signed a guarantee in favour of Canadian Imperial Bank of Commerce of payment of amounts owing under Ace's continuing operating loan. 

About Corby Spirit and Wine Limited 

Corby Spirit and Wine Limited is a leading Canadian manufacturer, marketer and distributor of spirits and imported wines. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's®, Lot 40®, and Pike Creek® Canadian whiskies, Lamb's® rum, Polar Ice® vodka and McGuinness® liqueurs, as well as the Ungava® gin, Cabot Trail® maple-based liqueurs and Chic Choc® spiced rum and Foreign Affair® wines. Through its affiliation with Pernod Ricard S.A., a global leader in the spirits and wine industry, Corby also represents leading international brands such as ABSOLUT® vodka, Chivas Regal®, The Glenlivet® and Ballantine's® Scotch whiskies, Jameson® Irish whiskey, Beefeater® gin, Malibu® rum, Kahlúa® liqueur, Mumm® champagne, and Jacob's Creek®, Wyndham Estate®, Stoneleigh®, Campo Viejo®, and Kenwood® wines. Corby is a publicly traded company based in Toronto, Ontario, and is listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B. For further information, please visit our website or follow us on LinkedIn.

SOURCE Corby Spirit and Wine Communications

Corby Spirit and Wine, Valerie Brive-Turtle, Senior Director of Communications, Public Relations and S&R, [email protected], www.Corby.ca