TORONTO, March 29, 2017 /CNW/ - Corby Spirit and Wine Limited ("Corby") announced today that it has entered into an amending agreement with Pernod Ricard USA, LLC ("Pernod Ricard USA") to extend the term of the existing distribution agreement between the parties to June 30, 2018. The amended agreement will be effective as of July 1, 2017. 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.
Since the agreement with Pernod Ricard USA 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 review.
About Corby Spirit and Wine
Corby Spirit and Wine Limited is a leading Canadian manufacturer, 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 40®, Pike Creek®, and Gooderham & Worts® Canadian whiskies, Lamb's® rum, Polar Ice® vodka and McGuinness® liqueurs, as well as Ungava® gin and Cabot Trail® maple cream liqueur. 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 2016, Corby was named one of the 50 Best Workplaces in Canada by The Great Place to Work® Institute Canada for the fifth consecutive year, and was also listed 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.
SOURCE Corby Spirit and Wine Limited
For further information: CORBY SPIRIT AND WINE LIMITED, Antonio Sanchez, Vice-President and Chief Financial Officer, Email: [email protected], www.corby.ca