Corby Spirit exercises Ace Beverage Holdco call option

Executive Summary

• Corby Spirit and Wine Ltd. exercised its call option under the July 4 2023 shareholder agreement, increasing its stake in Ace Beverage Holdco Inc. to 95 % (an additional 5 %).
• The acquisition strengthens Corby’s position in the Canadian ready‑to‑drink (RTD) market and supports further growth initiatives, including the recent Nude RTDs purchase.
• Corby’s subsidiary, Ace Beverage Group, sold non‑core brands (Ace Hill beer, Ace Hill RTDs, Liberty Village Dry Cider) to Twenty Bench Brewing Company Inc., reflecting active portfolio rationalisation.

Key Details

• Call Option Exercise:
• Date of agreement: July 4 2023.
• Additional shares purchased raise Corby’s ownership from 90 % to 95 % of Ace Holdco’s issued and outstanding shares.
• Strategic Rationale (CEO Quote): “The strategic acquisition… enabled us to become one of the top players in RTDs in Canada… unlocking new opportunities, including the subsequent acquisition of Nude RTDs.”
• Co‑founder Quote: Cam McDonald highlighted the combined expertise and pipeline for industry‑leading beverages.
• Non‑Core Brand Sale:
• Buyer: Twenty Bench Brewing Company Inc.
• Assets sold: Ace Hill beer, Ace Hill RTDs, Liberty Village Dry Cider.
• Purpose: Portfolio management to focus on core brands and drive innovation in key categories.

Notable Quotes

• “We look forward to building further upon the momentum that this acquisition provided and the benefits it continues to create for our consumers, customers and shareholders.” – Nicolas Krantz, President & CEO, Corby Spirit and Wine Ltd.
• “Combining ABG's expertise… has really helped grow the combined businesses.” – Cam McDonald, Co‑founder, Ace Beverage Group.