Canadian alcohol distributor Corby Spirit and Wine has acquired Foreign Affair Winery for CAD 6.2 million ($4.9 million) to complement its portfolio.
The transaction will Foreign Affair’s selection of Ontario red, white and rosé wine – including Temptress, Enchanted, Amarosé and The Conspiracy brands – join Corby. It is expected that the transaction will be completed by the end of September 2017.
Founded in 2000 by Len and Marisa Crispino, Foreign Affair operates a 40-acre vineyard located on the Niagara Peninsula in Ontario. It has crafted wines by applying the Italian appassimento technique, which produces a denser and more concentrated beverage. It also offers tastings on-site to members of the public and private diners, as well as exclusive offers through membership in its wine club.
The brand portfolio and other assets acquired by Corby will continue to operate from Foreign Affair’s current location in Vineland, Ontario. As part of the transaction, Len and Marisa Crispino will continue to remain involved, together with the existing Foreign Affair team.
Corby CEO Patrick O’Driscoll said: “We are very excited to announce this transaction and look forward to welcoming Len, Marisa and The Foreign Affair Winery team to the Corby family.
“This transaction will allow us to complement our wide portfolio of represented international wines with uniquely-styled, premium Canadian wines. Our companies share similar values, culture and passion and together we hope to leverage our resources to build on the strong legacy they have developed for Foreign Affair and its brands.”
Foreign affair owner Len Crispino added: “We are ecstatic to have entered into this agreement with such a strongly innovative Canadian recognised market leader.
“Our mutual business values are grounded in continuous innovation, strong customer engagement and loyalty, a commitment to lasting and memorable experiences, and a focus on the premium segment of the market.
“Corby’s extensive experience and reputation should strengthen the brand of the winery and raise the profile of Canadian wine industry.”
© FoodBev Media Ltd 2020
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