Corby Spirit and Wine closes Ace Beverage Group transaction

TORONTO — Corby Spirit and Wine Limited, announced the closing of the previously disclosed 90 per cent acquisition of the outstanding shares of Ace Beverage Group Inc.

The purchase price was paid using available cash and financing from Pernod Ricard, Corby’s majority shareholder.

In connection with closing of the transaction, Corby signed a guarantee in favour of Canadian Imperial Bank of Commerce of payment of amounts owing under Ace’s continuing operating loan.