Winery to double number of retail stores and expand product portfolio
VAUGHAN, ON, Feb. 5, 2013 /CNW/ - Magnotta Winery Corporation, Ontario's third largest winery, today announced the purchase of the wine assets of Niagara-based Kittling Ridge Ltd. The transaction will transfer store licenses, wine listings, grape grower agreements and the Kittling Ridge name and trademarks to Magnotta allowing the Ontario winemaker and retailer to accelerate its growth and increase the number of its stores.
The Alcohol and Gaming Commission of Ontario has approved the deal that will see the Kittling Ridge brand continue as part of Magnotta's portfolio which now includes Kittling Ridge's signature Icewine and Brandy and Vidal Icewine products, complementing Magnotta's leading position in this wine category.
"We are very pleased to have arrived at this agreement with Kittling Ridge," said Rossana Magnotta, President and CEO, Magnotta Winery Corporation. "Opening new retail locations in Ontario's regulated wine industry is only possible through the acquisition of existing licenses. This purchase allows us to add new stores to our chain and build on our over 20-year retail success while evolving the Kittling Ridge brand." Magnotta added, "We are also very excited to be working with the additional Ontario grape growers that are now part of our roster as a result of the deal and supporting the agricultural growth of the province. These relationships will play a key role in our success as we process more grapes and expand our 100% Ontario VQA product line."
Magnotta's new Kittling Ridge stores are located in Barrie, London, North York, Richmond Hill and Toronto. All Kittling Ridge licenses are expected to be transitioned into Magnotta stores over the next few years and will offer the company's full line of products. Kittling Ridge products will continue to be distributed through the LCBO, other liquor boards across Canada and export markets.
Established in 1990, Magnotta Winery Corporation is one of Canada's leading wine producers and retailers with seven Magnotta retail locations in Ontario. Magnotta is a Platinum Member of Canada's 50 Best Managed Companies and Canada's most award winning winery with over 3,500 awards for product excellence. Magnotta's 75,000 square foot flagship facility, which houses its head office, winery, brewery and distillery, is located in Vaughan, Ontario. The company has more than 180 acres of vineyards in the heart of Ontario's Niagara grape growing region and over 351 acres in the Maipo Valley, Chile's most sought after growing region. Magnotta has distributors across Canada and the United States as well as in Pacific Rim countries including China, Japan, Korea and Vietnam.
SOURCE: Magnotta Winery
For further information:
Jennifer Rideout, Temple Scott Associates, 416-360-6183 ext. 222, [email protected]