CANADA: Andres sells Cascadia spirits unit
Andres Wines has divested the recently-acquired spirits division of Cascadia Brands. The Canadian company said yesterday (10 November) that it has sold the division to Highwood Distillers of Calgary, Alberta for a price of approximately C$6m (US$5m).
Acquired by Andres in May, Cascadia, based in Vancouver, British Columbia, added a number of premium wines to the company's growing portfolio. "As one of Canada's largest producers of premium and ultra-premium wines, Cascadia's spirits brands were not a strategic fit," the company said.
Certain assets of Cascadia subsidiaries International Potters Distilling Corporation, Arctica Distilling Corporation and Cascadia Brands Inc will be purchased by Highwood, including the brands Potters premium vodka, Potters Special Old Canadian rye whisky, Potters Superior rum, Potters London dry gin, a line of liqueurs under the Abstract label and premium Canadian whisky under the Century Reserve label.
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