TORONTO, Sept. 28, 2015 /CNW/ - Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A, CSW.B) announced today that, for administrative reasons, Corby has entered into an amending agreement with Hiram Walker & Sons Limited ("Hiram Walker") and an affiliate of Pernod Ricard S.A. ("Pernod Ricard") to extend the initial ten-year term of the administrative and production services agreements between the parties to November 30, 2015. All other terms of the original agreements remain the same. Pernod Ricard indirectly owns in excess of 50% of the issued and outstanding Voting Class A Common Shares of Corby and is considered to be Corby's ultimate parent. Since the agreement with Hiram Walker and the affiliate constitute related party transactions, it was approved by the Independent Committee of the Corby Board of Directors following legal review.
Corby Spirit and Wine Limited is a leading Canadian marketer 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® 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®, Stoneleigh®, Campo Viejo®, Graffigna®, and Kenwood® wines.
This press release contains forward-looking statements, including statements concerning possible or assumed future results of Corby's operations. Forward-looking statements typically are preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and, as such, the Company's results could differ materially from those anticipated in these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. All financial results are reported in Canadian dollars.
SOURCE Corby Spirit and Wine Limited
For further information: CORBY SPIRIT AND WINE LIMITED, Antonio Sanchez, Vice-President and Chief Financial Officer, Tel.: 416-479-2400, [email protected], www.Corby.ca; For media inquiries, please contact: CORBY SPIRIT AND WINE LIMITED, Amandine Robin, Director, Communications, Tel.: 416-479-2400