Corby Spirit and Wine acquires majority stake in Ace Beverage Group for CAD 165 million
Pernod Ricard’s Canadian subsidiary Corby has agreed to acquire a 90% stake in Ace Beverage Group, a move designed to expand its footprint in the high-growth ready-to-drink category.
Corby Spirit and Wine, the Canadian affiliate of Pernod Ricard, has announced the acquisition of a 90% stake in Ace Beverage Group (ABG) at an enterprise value of CAD 165 million. The deal includes two call options, allowing Corby to acquire the remaining equity in the company in 2025 and 2028.
Ace Beverage Group, formed in 2020 via the merger of Cottage Springs and Ace Hill, has established itself as a significant player in Canada’s ready-to-drink (RTD) sector. Its portfolio includes brands such as Cottage Springs, which leads the Ontario market, as well as Ace Hill and Liberty Village.
The acquisition serves to bolster Corby’s presence in a segment that has seen consistent double-digit growth. Between 2016 and 2021, the Canadian RTD category grew by more than 20% annually, a trend industry analysts expect to continue in the medium term. By leveraging Corby’s established distribution network, ABG aims to expand its reach nationwide.
Corby CEO Nicolas Krantz stated that the partnership aligns with the company’s objective of entering promising product categories. The deal provides the infrastructure necessary to compete in the increasingly crowded beverage convenience market while integrating the expertise of ABG’s founding team.