Corby Distilleries announces closing of sale of selected brands and manufacturing facility

TORONTO, Nov. 1, 2011 /CNW/ - Corby Distilleries Limited ("Corby" or the "Company") (TSX:CDL.A) (TSX:CDL.B) announced today the closing of the previously disclosed transaction, after the market close on October 31, 2011, concerning the sale of certain owned-brands including De Kuyper Geneva gin, De Kuyper Peachtree schnapps, Red Tassel vodka and Silk Tassel Canadian whisky, as well as the shares of its subsidiary that owns the manufacturing and bottling facility in Montréal, Québec, to Sazerac Company, Inc. ("Sazerac") for a purchase price of $39.4 million, including the value of inventory on hand at closing.

About Corby
Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including Wiser's Canadian whisky, Lamb's rum, Polar Ice vodka and McGuinness liqueurs. Through its affiliation with Pernod Ricard S.A., Corby also represents leading international brands such as ABSOLUT vodka, Chivas Regal, The Glenlivet and Ballantine's Scotch whiskies, Jameson Irish whiskey, Beefeater gin, Malibu rum, Kahlúa liqueur, Mumm champagne, and Jacob's Creek, Wyndham Estate 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, respectively.

About Sazerac
Following its establishment in 1850, Sazerac has distilled an ever-increasing line of fine spirits. Sazerac is an independent, American family-owned company and the proud owner of many of America's most venerable distilling companies: Buffalo Trace Distillery, A. Smith Bowman, Glenmore Distillery, Barton, Fleischmann, Medley and Mr. Boston.

SOURCE Corby Distilleries Limited

For further information:

CORBY DISTILLERIES LIMITED    SAZERAC COMPANY, INC.
Thierry Pourchet, Vice-President & CFO   Amy Preske, Public Relations Director
Tel.: 416-479-2400      Tel.: 502-696-5957
investors@corby.ca      apreske@sazerac.com
www.corby.ca       www.sazerac.com

 

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Corby Distilleries Limited

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