2023-06-13 03:59:06 ET
- Corby Spirit and Wine ( OTCPK:CRBBF ) to acquire a 90% stake in Canadian ready-to-drink market leader, Ace Beverage Group at an enterprise value of C$165M.
- Through a series of two call options on the remaining shares, exercisable in 2025 and 2028, Corby will have a route to complete ownership of ABG.
- The move enables Corby to add scale, expertise, agility and efficiencies in the dynamic Canadian RTD category.
- With the addition , ABG will benefit from Corby’s powerful and extensive distribution network to support its brands in further growing their presence across Canada.
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Corby Spirit and Wine to acquire majority stake in Ace Beverage Group for C$165M