TORONTO and LONDON, March 22, 2016 /CNW/ - Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A, CSW.B) and Pernod Ricard UK Ltd. ("PRUK") announced today that they have entered into an agreement providing PRUK the exclusive right to represent Lamb's® rum in Great Britain as of July 1, 2016, upon termination of the existing third-party representation agreement, for a five year period to June 30, 2021. Pernod Ricard S.A. ("Pernod Ricard") wholly owns PRUK and indirectly owns in excess of 50% of the issued and outstanding Voting Class A Common Shares of Corby and is considered to be both Corby's and PRUK's ultimate parent.
The recipe for Lamb's rum dates back to 1849 when Alfred Lamb established his business in London, England, distilling fine rums from the highest quality Caribbean sugar cane. Today, Lamb's Navy, Lamb's White, Lamb's Spiced and Lamb's Cherry Spiced rums are available in Great Britain.
"I'm very pleased that Corby is entering into this new relationship with PRUK and am excited to work with the PRUK management team to build upon the long history of Lamb's in this core market. Partnering with PRUK will allow Lamb's to benefit from PRUK's well-established distribution network and strong relationships with both off- and on-trade customers, thereby positioning the brand to drive profitability and increase market share," noted Patrick O'Driscoll, President and Chief Executive Officer of Corby. "We appreciate Halewood International's efforts in representing Lamb's for the last eight years and now look forward to the future with PRUK."
"We are delighted to expand our offering by distributing Lamb's in Great Britain," said Denis O'Flynn, Managing Director, Pernod Ricard UK. "Lamb's is a great portfolio fit for our business and represents a strong opportunity for us and our customers. The rum category is ripe for continued innovation. We look forward to announcing our plans for the brand later this year."
Since the agreement with Pernod Ricard UK constitutes a related party transaction, the agreement was approved by the Independent Committee of the Board of Directors of Corby following review, in accordance with Corby's related party transaction policy.
About Corby Spirit and Wine
Corby Spirit and Wine Limited is a leading Canadian marketer and distributor of spirits and imported wines. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's®, Lot No. 40®, Pike Creek®, and Gooderham & Worts® Canadian whiskies as well as Lamb's® rum, Polar Ice® vodka and McGuinness® and Criollo® liqueurs. Through its affiliation with Pernod Ricard S.A., a global leader in the spirits and wine industry, 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®, Stoneleigh®, Campo Viejo®, Graffigna® and Kenwood® wines. In 2015, Corby was named one of the 50 Best Workplaces in Canada by The Great Place to Work® Institute Canada for the fourth consecutive year, and was also listed for the second time among Greater Toronto's Top 100 Employers. Corby is a publicly traded company based in Toronto, Ontario, and listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B. For further information, please visit our website or follow us on LinkedIn, Twitter (@CorbySW), and Instagram (@CorbySW).
About Pernod Ricard UK
Pernod Ricard UK is part of Pernod Ricard SA, the global n°2 in wines and spirits with consolidated Sales of € 8,558 million in 2014/15. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008). Pernod Ricard holds one of the most prestigious brand portfolios in the sector, including 19 brands among the top 100 worldwide. Pernod Ricard UK has identified the following key priority brands in the UK market: Absolut, Havana Club®, Malibu, Kahlua®, Plymouth Gin®, Chivas Jameson, The Glenlivet, Aberlour®, Martell®, Perrier-Jouët®, G.H. Mumm®, Brancott Estate®, Campo Viejo, Graffigna and Jacob's Creek. Pernod Ricard UK is a member of The Portman Group promoting responsible drinking.
SOURCE Corby Spirit and Wine Limited
Image with caption: "Corby Spirit and Wine Limited (CNW Group/Corby Spirit and Wine Limited)". Image available at: http://photos.newswire.ca/images/download/20160322_C3743_PHOTO_EN_647809.jpg
Image with caption: "Pernod Ricard UK (CNW Group/Corby Spirit and Wine Limited)". Image available at: http://photos.newswire.ca/images/download/20160322_C3743_PHOTO_EN_647881.jpg
For further information: PERNOD RICARD UK, Aurelie Kane, Head of Corporate Communications, Tel.: +44 208 538 4001, Aurelie.Kane@pernod-ricard.com, http://www.pernod-ricard-uk.com/; CORBY SPIRIT AND WINE LIMITED, Antonio Sanchez, Vice-President and Chief Financial Officer, Tel.: 416-479-2400, firstname.lastname@example.org; Amandine Robin, Director, Communications, Public Relations and CSR, Tel.: 416-479-2492, email@example.com, www.corby.ca