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Québec-based Prime Drink Group has signed a binding letter of intent to acquire Prime Capital Investments, owner of the Beach Day Every Day ready-to-drink beverage brand, in a transaction valued at CAD $10 million, approx. $7,203,500.
The deal remains subject to due diligence, financing, shareholder and regulatory approvals, as well as the negotiation of a definitive purchase agreement.
Founded in 2020, PCI produces, bottles and sells both alcoholic and non-alcoholic beverages. The company has expanded its presence through Québec's SAQ retail network and has also begun growing Beach Day Every Day's distribution footprint across the rest of Canada and the United States.
For the year ended November 30, 2025, PCI reported unaudited, non-IFRS annual royalty revenue of CAD $2.1 million (approx. $1,512,724) and adjusted EBITDA of CAD $1.2 million (approx. $864,354).
Prime Drink Group said the acquisition would add a premium, fast-growing brand to its beverage portfolio while giving the company exposure to BDED's expansion beyond its home market.
Jean Gosselin, chief financial officer of Prime Drink Group, said: “The acquisition of Beach Day Every Day, a leading brand in the Québec ready-to-drink beverage market, was very attractive for Prime. Notably, this acquisition will enable Prime to add a premium, fast-growing brand to its portfolio.”
He added that Prime expects to benefit from the brand's recent expansion activities in the wider Canadian and US markets.
The transaction reflects continued interest in the RTD category, where established beverage companies and emerging brands are seeking opportunities to build scale through portfolio expansion and geographic growth.
Under the proposed terms, Prime will pay C$10m for all issued and outstanding shares of PCI.
The proposed acquisition will also require Prime to complete a minimum CAD $4 million concurrent non-brokered private placement. The financing will comprise units priced at CAD $0.05 each, with every unit consisting of one common share and one warrant exercisable at CAD $ 0.10 for two years.
Prime said the proceeds will be used partly to finalise an agreed settlement with creditors, fund a portion of the cash consideration for the acquisition and support general working capital.
Prime expects to complete due diligence on PCI by October 15, 2026. Other conditions include the delivery of audited financial statements for PCI's two most recently completed fiscal years, an independent valuation report and approval from the Canadian Securities Exchange.
The transaction is classified as a major acquisition under CSE policies and will require exchange approval. However, the company said it does not expect the deal to result in a change of control.
Because certain directors hold positions across Prime, PCI and Prime Affichage, the transaction is also expected to be treated as a related-party transaction under Canadian securities rules. Prime said it expects the transaction to qualify for exemptions from formal valuation and minority shareholder approval requirements.
There is no assurance that the proposed acquisition will close.
