Corby Spirit and Wine scales up RTD category, buys Ace Beverage Group

Corby Spirit and Wine purchases Ace Beverage Group for $148.5 million.

Founded in 2013, Ace Beverage Group manufactures ready-to-drink (RTD) beverages.

The transaction adds significant scale to Corby’s portfolio in the RTD category with brands such as Cottage Springs, Ace Hill, Cabana Coast and Liberty Village.

“Corby’s sustained growth relies on our ability to bring exciting choices to our consumers, by continually expanding into new and promising categories. We are extremely excited to partner with Ace and become one of the leading RTD players in Canada, as we believe the combined strength of our companies and people will unlock new opportunities,” said Nicolas Krantz, Corby’s president and CEO.

Ace Beverage Group’s co-founder, Cam McDonald, added, “We are thrilled to join Corby, and are extremely proud of Ace’s journey and accomplishments to date. As we begin this next chapter, we believe the significant joined expertise, experience and resources will help our businesses to take the next step in our shared ambition of continuing to develop industry-leading beverages for consumers.”