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Corby Spirit and Wine Announces Closing of Acquisition of Domaines Pinnacle's Spirits Business

TORONTO, Sept. 30, 2016 /CNW/ - Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A, CSW.B) announced today the closing of the previously disclosed acquisition of the spirits assets of Domaines Pinnacle Inc. ("Domaines Pinnacle"), including its spirits portfolio of distinctly Canadian brands, comprised of the unique Ungava® Premium Canadian gin brand, Chic Choc® spiced rum, and a range of maple-based liqueurs including Coureur des Bois® and Cabot Trail®, as well as related production assets and inventory. The brand portfolio and other assets acquired by Corby will now be operated by Ungava Spirits Co. Ltd., ("Ungava Spirits") a new, wholly-owned Corby subsidiary that is based in the current location of the spirits business in Cowansville, Quebec.

"Today marks an important milestone in Corby's history as we welcome these innovative brands to our existing Canadian portfolio," said Patrick O'Driscoll, President and CEO, Corby. I'm confident that the entrepreneurial spirit of the joining team will further benefit innovation at Corby, as we continue to focus on driving growth and creating value for the company and our customers."

"We are pleased to become part of Corby – an iconic Canadian spirits company that shares our passion for bringing premium brands to the market," said Charles Crawford, co-founder of Domaines Pinnacle, who joined Corby as the President of Ungava Spirits, reporting to Mr. O'Driscoll. "We look forward to working as a subsidiary of Corby, from our existing facilities in Quebec, as we take Ungava Spirits' brands to the next level."

About Corby
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 No. 40®, Pike Creek® and Gooderham & Worts® Canadian whiskies, as well as Lamb's® rum, Polar Ice® vodka and McGuinness® 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 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 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).

Forward Looking Statements
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, actual results or expectations 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