Corby Spirit and Wine acquires Ace Beverage Group for C$148.5M
July 4, 2023
148.50 Million CAD
On July 4, 2023, Corby Spirit and Wine completed the closing of the previously disclosed 90% acquisition of the outstanding shares of Ace Beverage Group Inc. for C$148.5 million As part of the transaction's completion, Corby also entered into an agreement to guarantee payment of the outstanding amounts owed under Ace's ongoing operating loan, which is in favor of the Canadian Imperial Bank of Commerce.
Corby Spirit and Wine, based in Toronto, Ontario, is a manufacturer, marketer and distributor of spirits and imported wines.
Ace Beverage Group Inc., based in Toronto, Ontario, is an alcoholic beverage company with Cottage Springs as one of its flagship brands.
McCarthy Tétrault advised Corby Spirits and Wine with a team led by Lara Nathans that included Samantha Pettinato, Sarah Ferguson, Lama Kahiel (Corporate/M&A), Marie-Soleil Landry, Fred Purkey (Tax), Debbie Salzberger (Competition/Anti-Trust), Danielle Bush, Evie Bouras (Regulatory/Licensing), Vincent Yip (Intellectual Property), Trevor Lawson, Nicole Naglie (Labour & Employment), Kelleher Lynch (Pensions, Benefits & Exec Comp), Dana Siddle, Grace Waschuk (Privacy), Ted Cox (Real Property and Planning, Justin Lapedus, William Lee and Rebecca Scott (Lending).