Corby Spirit and Wine Announces Closing of Acquisition of The Foreign Affair Winery

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Corby Spirit and Wine Announces Closing of Acquisition of The Foreign Affair Winery

Canada NewsWire

TORONTO, Oct. 2, 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 the closing of the previously disclosed acquisition of all the shares of the winery and assets of the vineyard, which together operate as the Foreign Affair Winery, a Niagara, Ontario-based VQA wine producer.  The transaction results in Corby's acquisition 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 brand portfolio and other assets acquired by Corby will now be operated by The Foreign Affair Winery Limited, a new, wholly-owned Corby subsidiary that is based in the current location of the winery in Vineland Station, Ontario.

"It is an exciting time for Corby as we welcome these premium Canadian wines to our portfolio of represented international wines," said Patrick O'Driscoll, President and CEO, Corby. "We are delighted to welcome Len and Marisa Crispino and the whole team to the Corby family, and look forward to working together to grow the Foreign Affair brands."   

"Marisa and I look forward to assisting Corby to create lasting and memorable experiences and to continue on a path of inspired innovation," said Len Crispino, Proprietor of the Foreign Affair Winery.

About Corby
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, as well as Lamb's® rum, Polar Ice® vodka and McGuinness® liqueurs, in addition to the recently acquired Ungava® Premium Canadian gin, Cabot Trail® maple-based liqueurs and Chic Choc® Spiced rum. 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®, Graffigna® and Kenwood® wines. In 2017, Corby was named one of the 50 Best Workplaces in Canada by The Great Place to Work® Institute Canada for the sixth consecutive year, and was also listed among Greater Toronto's Top 100 Employers. Corby is a publicly traded company based in Toronto, Ontario, and 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, Twitter (@CorbySW), and Instagram (@CorbySW).

Forward Looking Statements
This press release contains forward-looking statements, including statements concerning possible or assumed future results of Corby's operations. Forward-looking statements typically are preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and, as such, actual results or expectations could differ materially from those anticipated in these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. All financial results are reported in Canadian dollars.

SOURCE Corby Spirit and Wine Limited

View original content: http://www.newswire.ca/en/releases/archive/October2017/02/c4253.html

Copyright CNW Group 2017

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