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Corby Spirit and Wine and Ace Beverage Group acquire Nude Beverage Ready to Drink Brand and Assets

Date Closed

May 13, 2024

Lead Office


On May 13, 2024, Corby Spirit and Wine ("Corby") and Ace Beverage Group ("ABG") acquired Nude Beverage ("Nude") brand and assets of MXM Beverages Ltd. ("MXM"). Following Corby's acquisition of ABG last year, the acquisition of Nude accelerates Corby's and ABG's shared path to leadership of the ready-to-drink (RTD) category in Canada. Headquartered in Vancouver, BC, Nude Beverages was created with a mission to develop drinks that were sugar and sweetener free. Nude launched Canada's first ready-to-drink 5% sugar-free vodka soda in 2017 and has since crafted several Nude product line extensions and new brands, such as Los Flamingos and Slappy's.

Corby is a leading Canadian manufacturer, marketer and distributor of spirits, wines and ready-to-drink beverages. 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, Cottage Springs ready-to-drink beverages, 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.

ABG is a leading better-for-you ("BFY") beverage alcohol company in Canada. Its flagship brand, Cottage Springs, is one of the biggest and fastest growing RTD brands in Canada. Additional popular brands include Ace Hill, Cabana Coast and Casa Del Ray.

McCarthy Tétrault advised Corby and ABG with a team that was led by Pavan Jawanda and Lance Williams and included Lara Nathans, James Lin, Joe Furness (Business), Josh Friedman (Financial Services), Vincent Yip, Jeff Sun (Intellectual Property), Donovan Plomp (Labour and Employment), Ashley Bowron and Angelica Kovac (Bankruptcy and Restructuring).