Corby Distilleries sells Montreal plant, 17 brands to Sazerac for $32.9-million
TORONTO – Corby Distilleries Ltd (TSX:CDL.A) has agreed to sell a Montreal manufacturing and bottling plant as well as 17 of its brands for about $32.9 million to Sazerac Company, Inc.
Corby says all of the facility’s employees will be employed by Sazerac and some of Corby’s remaining brands will be produced at the plant.
Among the brands to be sold are De Kuyper Geneva gin, De kuyper Peachtree schnapps, Red Tassel vodka and Silk Tassel whisky.
Corby said the strategic divestiture will free up more of the company’s resources to support its major brands, include Wiser’s Canadian whisky, Lamb’s rum, Polar Ice vodka and McGuinness liqueurs.
The majority of Corby’s brands will continue to made at the company’s Hiram Walker & Sons Ltd. facility near Windsor, Ont., which is managed by Corby’s on behalf of Pernod Ricard SA.