Corby Distilleries Limited and Pernod Ricard USA, LLC Announce Distribution Agreement
TORONTO AND NEW YORK, Sept. 25, 2012 /CNW/ - Corby Distilleries Limited ("Corby") and Pernod Ricard USA, LLC ("Pernod Ricard USA") announced today that they have entered into an agreement providing Pernod Ricard USA the exclusive right to represent Wiser's® Canadian whisky and Polar Ice® vodka in the United States of America effective as of July 1, 2012 for a five year period to June 30, 2017. The agreement term also covers the period during which temporary arrangements were in place following the transition from Corby's former distributor and is on similar terms to that of the former distributor. Pernod Ricard indirectly owns in excess of 50% of the issued and outstanding voting common shares of Corby and is considered to be Corby's ultimate parent.
Wiser's Canadian whisky is Canada's best-selling and number one choice for whisky, with global sales of almost 760,000 cases in fiscal 2012. Wiser's variants currently available in the USA include Wiser's Deluxe, Wiser's Legacy and Wiser's 18 Year Old. The recently launched Wiser's Legacy, was awarded a 95 point rating and "Liquid Gold" status in Jim Murray's Whisky Bible 2012 Edition, while Wiser's 18 Year Old was awarded Canadian Whisky of the Year in Whisky Advocate Magazine in February 2012.
Polar Ice vodka is the best-selling Canadian vodka brand, with sales exceeding 321,000 cases in fiscal 2011. It is the third largest vodka by volume and value in Canada and the second largest spirit brand overall in the on-premise channel. 'Canada's Vodka' is made from only the finest grains, quadruple distilled and triple filtered.
"We are very delighted to partner with Pernod Ricard USA to represent Corby's US-exported brands. Not only will Pernod Ricard USA provide national distribution for Wiser's Canadian whisky and Polar Ice vodka, but the brands will also gain from their expertise working with premium brands", said Patrick O'Driscoll, Corby's Chief Executive Officer.
"Wiser's Canadian whisky and Polar Ice vodka are good complements to Pernod Ricard USA's leading premium portfolio, and each will benefit from our powerful route to market and strong track record of brand building," said Bryan Fry, President and Chief Executive Officer, Pernod Ricard USA.
Since the agreement with Pernod Ricard is a related party transaction between Corby and Pernod Ricard, the agreement was approved by the Independent Committee of the Board of Directors of Corby following an extensive review, in accordance with Corby's related party transaction policy.
Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including Wiser's® Canadian whiskies, Lamb's® rum, Polar Ice® vodka and McGuinness® liqueurs. Through its affiliation with Pernod Ricard, Corby also represents leading international brands such as Absolut® vodka, Chivas Regal®, The Glenlivet® and Ballantine's® scotches, Jameson® Irish whiskey, Beefeater® gin, Malibu® rum, Kahlúa® liqueurs, Mumm® champagne, and Jacob's Creek®, Wyndham Estate®, Stoneleigh® and Graffigna® wines. The existing Voting Class A Common Shares and Non-voting Class B Common Shares of the company are traded on the Toronto Stock Exchange under the symbols CDL.A and CDL.B.
About Pernod Ricard USA
Pernod Ricard USA is the premium spirits and wine company in the U.S. and their leading spirits and wines include such prestigious brands as Absolut® Vodka, Chivas Regal® Scotch Whisky, The Glenlivet® Single Malt Scotch Whisky, Jameson® Irish Whiskey, Malibu® flavored rum, Kahlúa® Liqueur, Beefeater® Gin, Plymouth™ Gin, Seagram's Extra Dry Gin®, Martell® Cognac, Hiram Walker® Liqueurs, Pernod®, Ricard® and Avión™ Tequila (through a joint venture with Tequila Avión); such superior wines as Jacob's Creek® and Brancott Estate®; and such exquisite champagnes and sparkling wines as Perrier-Jouët® Champagne, G.H. Mumm™ Champagne and Mumm Napa® sparkling wines.
This press release contains certain forward-looking statements relating, but not limited to, Corby's operations and business prospects. Forward-looking information typically contains statements with words such as "anticipate, "believe", "expect" or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such factors include, but are not limited to economic, competitive and industry conditions. Corby disclaims any responsibility to update any such forward-looking statements.
SOURCE: Corby Distilleries LimitedFor further information:
CORBY DISTILLERIES LIMITED
John Leburn, Chief Financial Officer
Tel.: (416) 479-2400
PERNOD RICARD USA, LLC
Jack Shea, VP, Corporate Communications