![]() ![]() As we begin this next chapter, we believe the significant joined expertise, experience and resources will help our businesses to take the next step in our shared ambition of continuing to develop industry-leading beverages for consumers." We look forward to welcoming them to Corby and are excited about the benefits this acquisition will create for our consumers, customers, and shareholders."Īce Beverage Group's Co-Founder, Cam McDonald, added "We are thrilled to join Corby, and are extremely proud of Ace's journey and accomplishments to date. "The Ace team has built an inspiring business, through a culture of execution excellence, consumer centricity and passionate people. We are extremely excited to partner with Ace and become one of the leading RTD players in Canada, as we believe the combined strength of our companies and people will unlock new opportunities," said Nicolas Krantz, Corby's President and Chief Executive Officer. "Corby's sustained growth relies on our ability to bring exciting choices to our consumers, by continually expanding into new and promising categories. Additionally, the Ace team brings to Corby a deeper understanding of the category and its consumers, along with agile innovation capabilities and execution excellence.ĬOMPELLING STRATEGIC AND FINANCIAL BENEFITSĮxpansion into the large, fast-growing, and highly attractive RTD segment, where RTDs have significantly outperformed other categories in the beverage alcohol market and continue to exhibit a vast runway for future growth.Īdds Cottage Springs, the #1 RTD brand in the Liquor Control Board of Ontario ("LCBO"), along with other industry-leading brands Ace Hill, Cabana Coast and Liberty Village to Corby's dynamic product portfolio.Ĭombines two companies with proven track records of building brands, successful product development, innovation capabilities and ability to launch new on-trend products for consumers.Ĭreates value for Corby shareholders: The transaction is expected to be highly accretive, adding an asset-light, low capex business to Corby, enabling Corby to enhance its growth profile, maintain strong margin, low leverage and return capital to shareholders. The transaction adds significant scale to Corby's portfolio in the high-growth RTD category. Ace also boasts a rich and diversified portfolio of other innovative brands, such as Ace Hill, Cabana Coast and Liberty Village. Its flagship brand, Cottage Springs, is the leading ready-to-drink ("RTD") brand in Ontario, with a strong positioning in key category segments and bestsellers that include, Cottage Springs Vodka Soda, Vodka Water and Tequila Soda. With roots dating back to 2013, Ace Beverage Group has achieved consistent high double-digit growth to become a Canadian RTD leader. Corby to Acquire Ace Beverage Group (CNW Group/Corby Spirit and Wine Communications)
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