Ace Beverage Group Closes Acquisition of Nude Ready-to-Drink Brand; Corby Announces New Independent Director

TORONTO, May 13, 2024 /CNW/ -

CLOSING OF TRANSACTION

Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A) (TSX: CSW.B) announced today the closing of the previously disclosed acquisition of the Nude ready-to-drink brand and certain assets of MXM Beverages Ltd. by its subsidiary, Ace Beverage Group Inc.

ADDITION TO CORBY BOARD OF DIRECTORS

The Corby Board of Directors announced that, effective today, Pam Laycock has been appointed as an independent Director of Corby. Ms. Laycock brings significant expertise to guide the Corby Board of Directors, having served in various executive capacities in business and digital transformations, and with decades of Executive, Board and advisory experience from a variety of industries. Ms. Laycock graduated with a Master of Business Administration degree from the Schulich School of Business, York University, and a Bachelor of Commerce degree from the University of Toronto. Ms. Laycock also holds an ICD.D designation from the Institute of Corporate Directors.

"We are very pleased to welcome Pam to the Corby Board of Directors. Her extensive experience in leading transformation, strategic planning, and execution will undoubtedly strengthen our Board and help guide the Company as we continue to navigate an ever-evolving business landscape," said Lucio Di Clemente, Chair of the Corby Board of Directors.

About Corby Spirit and Wine Limited 

Corby Spirit and Wine Limited ("Corby") is a leading Canadian manufacturer, marketer and distributor of spirits, wines and ready-to-drink beverages. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's®, Lot 40®, and Pike Creek® Canadian whiskies, Lamb's® rum, Polar Ice® vodka and McGuinness® liqueurs, as well as the Ungava® gin, Cabot Trail® maple-based liqueurs and Chic Choc® spiced rum, Cottage Springs® ready-to-drink beverages, and Foreign Affair® wines. 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®, and Kenwood® wines. Corby is a publicly traded company based in Toronto, Ontario, and is 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.

About Ace Beverage Group Inc. 

Ace Beverage Group ("ABG") is a leading better-for-you ("BFY") beverage alcohol company in Canada. Its flagship brand, Cottage Springs, is one of the biggest and fastest growing ready-to-drink brands in Canada. Additional popular brands include Ace Hill, Cabana Coast and Casa Del Ray. ABG's mission is to develop, launch and market the world's best tasting BFY alcoholic beverages.

About Nude Beverages

Headquartered in Vancouver, BC, Nude Beverages was created with a mission to develop drinks that were sugar and sweetener free. Nude launched Canada's first ready-to-drink 5% sugar-free vodka soda in 2017 and has since crafted several Nude product line extensions and new brands, such as Los Flamingos and Slappy's. 

www.Corby.ca 

SOURCE Corby Spirit and Wine Limited

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