Mergers & Acquisitions
By The Online Investor Staff, updated Fri., Apr. 26, 8:25 AM
Slide #29. Corby Spirit and Wine Limited — Nude Beverage Brand from MXM Beverages Ltd.
Acquirer: |
Corby Spirit and Wine Limited (TSE:CSW.A.CA) |
Acquiree: |
Nude Beverage Brand from MXM Beverages Ltd. |
Details: |
Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A) (TSX: CSW.B) today announced that its subsidiary, Ace Beverage Group Inc. ("Ace Beverage Group" or "ABG"), has signed a definitive agreement to acquire the Nude ready-to-drink ("RTD") brand and certain assets of MXM Beverages Ltd. ("MXM") for $11 million, which will be funded using available financing from ABG's existing credit facility (the "Transaction"). |
Corby Spirit & Wine is engaged in the provision of manufacturing and marketing of spirits and importing of wines. Co. operates two segments: Case Goods and Commissions. The Case Goods segment produces and distributes its own beverage alcohol brands such as Wiser's Canadian whisky, Lamb's rum, Polar Ice vodka, McGuinness liqueurs and Seagram Coolers. The Commissions segment involves non-owned beverage alcohol brands such as ABSOLUT vodka, Chivas Regal, The Glenlivet and Ballantine's scotches, Jameson Irish whiskey, Beefeater gin, Malibu rum, Kahlúa liqueur, Mumm champagne, and Jacob's Creek and Wyndham Estate wines.
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April 26, 2024 8:25 AM Eastern
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