GRIMSBY, Ontario, Sept. 21, 2017 (GLOBE NEWSWIRE) -- Andrew Peller Limited (TSX:ADW.A) (TSX:ADW.B) (“APL” or the “Company”) announced that it has signed a definitive agreement to acquire 100% of the previously-announced Tinhorn Creek Vineyards. The winery, located on the Golden Mile Bench near Oliver, B.C., sits among 150 acres of vineyards and the winery’s prestigious and award-winning Miradoro Restaurant. Family-owned and operated since 1993, Tinhorn Creek produces both red and white vintages in the super premium category sold to fine wine retailers and restaurants, as well as through on site tastings and events. The company expects to close the transaction on October 1, 2017.
The Company also announced today that it would complete the previously-announced acquisition of Gray Monk Estate Winery on October 1, 2017. The previously announced acquisition of Black Hills Estate Winery is expected to close on October 10, 2017, subject to a Black Hills’ Partnership vote scheduled to be held on October 5, 2017. In connection with the closing of the transactions, the Toronto Stock Exchange has provided conditional approval for the issuance by the Company of Class A common shares.
John Peller, Chairman & CEO of Andrew Peller Limited, commented “We are excited to confirm the Tinhorn Creek acquisition as well as the closing dates for Black Hills and Gray Monk Estate Winery. These premium, super premium and ultra premium wines complement our VQA portfolio and will help us share more incredible BC VQA wines with wine consumers across the country.”
About Andrew Peller Limited
Andrew Peller Limited is a leading producer and marketer of quality wines in Canada. With wineries in British Columbia, Ontario, and Nova Scotia, the Company markets wines produced from grapes grown in Ontario’s Niagara Peninsula, British Columbia’s Okanagan and Similkameen Valleys, and from vineyards around the world. The Company’s award-winning premium and ultra-premium VQA brands include Peller Estates, Wayne Gretzky, Trius, Thirty Bench, Sandhill, Red Rooster, Raven Conspiracy and Conviction. Complementing these premium brands are a number of popularly priced varietal brands including Peller Estates French Cross in the East, Peller Estates Proprietors Reserve in the West, Copper Moon, Black Cellar, and XOXO. Hochtaler, Domaine D’Or, Schloss Laderheim, Royal, and Sommet are our key value priced brands. The Company imports wines from major wine regions around the world to blend with domestic wine to craft these quality and value priced brands. The Company also produces wine based liqueurs and cocktails under the brand Panama Jack and a craft cider called No Boats on Sunday. In October 2016, the Company launched its new Wayne Gretzky No. 99 Red Cask Canadian Whisky in certain markets across Canada and in 2017 expanded the Spirits portfolio with No. 99 Ice Cask, 99 Proof and No. 99 Canadian Whisky Cream products. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly-owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. Global Vintners distributes products through over 170 Winexpert authorized retailers and more than 600 independent retailers across Canada, the United States, the United Kingdom, New Zealand, Australia, and China. Global Vintners award-winning premium and ultra-premium winemaking brands include Selection, Vintners Reserve, Island Mist, KenRidge, Cheeky Monkey, Traditional Vintage, and Cellar Craft. The Company owns and operates 102 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker’s Collection Inc.; both of these wine agencies are importers of premium wines from around the world and are marketing agents for these fine wines. The Company’s products are sold predominantly in Canada with a focus on export sales for Icewine and personal winemaking products. More information about the Company can be found at www.andrewpeller.com.
Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B).
FORWARD-LOOKING INFORMATION
Certain statements in this news release may contain “forward-looking statements” within the meaning of applicable securities laws, including the “safe harbour provision” of the Securities Act (Ontario) with respect to Andrew Peller Limited and its subsidiaries. Such statements include, but are not limited to, statements about: the expected closing of the transactions and the timing thereof; the growth of the business in light of the Company’s recent acquisitions; its launch of new premium wines and spirits; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words “believe”, “plan”, “intend”, “estimate”, “expect”, or “anticipate” and similar expressions, as well as future or conditional verbs such as “will”, “should”, “would”, and “could” often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: the timely satisfaction by the applicable parties of the conditions to the completion of each transaction, including receipt of final approval from the Toronto Stock Exchange for the issuance by the Company of Class A common shares in connection with the transactions; future grape, glass bottle, and wine and spirits prices; its ability to obtain grapes, imported wine, glass, and its ability to obtain other raw materials; fluctuations in the U.S./Canadian dollar exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian wine market; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labeling its products; the regulation of liquor distribution and retailing across provinces; and the impact of increasing competition.
These forward-looking statements are also subject to the following risks and uncertainties: the applicable parties are unable to satisfy the conditions to the completion of each transaction, including receipt of final approval from the Toronto Stock Exchange for the issuance by the Company of Class A common shares in connection with the transactions; and other risks and uncertainties discussed in this news release, in the “Risks and Uncertainties” section and elsewhere in the Company’s MD&A and in the publicly filed disclosure documents of Andrew Peller Limited which are available at www.sedar.com. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company’s forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise.
For more information, please contact:
For Investors:
Brian Athaide, CFO and EVP Human Resources and Information Technology
(905) 643-0187
brian.athaide@andrewpeller.com
For Media:
Freda Colbourne
colbournef@gmail.com
(416) 560-7794