The transaction is set to close in September
Canada based wine maker, Corby Sprit and Wine Limited has acquired The Foreign Affair Winery, an Ontario VQA wine producer, for $6.2 million.
In a statement, Corby’s says, “It will acquire all of The Foreign Affair Winery’s shares, winery and assets of the vineyard. The company sells its products through a variety of channels including directly from its on-site retail store, to wine club customers and through the LCBO and SAQ.”
Corby’s says Foreign Affair “is recognized as the first Canadian winery to craft wines exclusively applying the Italian appassimento technique for winemaking, which produces denser and more concentrated juices.”
The statement says the transaction is set to close in September.
Foreign Affair’s brand portfolio and other assets will continue to operate in their current location, and the Crispinos will continue to be involved following the closing.
