CANADA: Magnotta Winery Corp acquires Kittling Ridge
Magnotta Winery Corp has bought fellow Canadian winery Kittling Ridge, doubling its number of independent retail outlets in Ontario.
The deal, for an undisclosed sum, also sees Magnotta expand its ice wine portfolio with Kittling's Icewine & Brandy and Vidal Icewine brands, Magnotta said yesterday (5 February). Kittling's store licenses will transfer to Magnotta over the next few years, along with brands, wine listings and grape grower agreements, Magnotta said.
Ontario's alcoholic drinks retail channel is government-regulated and wineries with independent stores can only open new retail locations through the acquisition of existing licenses.
“This purchase allows us to add new stores to our chain … while evolving the Kittling Ridge brand,” Magnotta president & CEO Rossana Magnotta said.
Last month, a study claimed ice wine is poised for overseas growth after a vintage winter harvest.
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