Dandurand and La Martiniquaise-Bardinet have agreed to acquire the Lamb’s rum brand and "certain assets" from Corby Spirit and Wine.
The deal was conducted via Maison des Futailles, which is majority owned by Canadian wine major Dandurand, and Glen Turner Company, part of the French spirits group La Martiniquaise-Bardinet - itself a subsidiary of Cofepp.
It splits the rum label’s rights between North America and international markets, with Dandurand and Cofepp taking respective ownership.
The transaction carries a value of C$39.2m (US$28m), subject to customary adjustments.
It covers brand inventories alongside intellectual property.
In a statement yesterday (5 August), Corby, majority owned by Pernod Ricard, said the sale “sharpens” its focus on “priority growth platforms, including ready-to-drink beverages and premium spirits”.
The disposal will also release capital for “higher-return” opportunities and makes its portfolio simpler, the Canada-listed drinks producer and distributor added.
Corby owns brands including J.P. Wiser's, Polar Ice, and Cottage Springs.
Through Pernod Ricard and other partners, it also markets international brands such as Absolut, Chivas Regal, Jameson, and Jacob's Creek in Canada.
Its CEO Florence Tresarrieu, who assumed the role in January, said the disposal “allows us to further focus our resources on higher-priority categories, strengthen our financial position, and continue investing behind the brands and innovations that will drive Corby's next chapter of growth".
Following completion, Corby and its affiliated companies will provide temporary transition support tied to the brand’s production and distribution for the buyers.
Its board of directors has approved the transaction.
"Lamb's is a well-established brand in the UK that complements our existing portfolio and strategic objectives," said Christophe Pichambert, the international director of La Martiniquaise-Bardinet.
In January last year, La Martiniquaise-Bardinet bought the Cacique Venezuelan rum brand from Diageo, through its Spanish arm.
That was followed by the purchase of a majority stake in UK gin producer Warner’s Distillery in July last year.
The group also acquired a 40% stake in Spanish company Street Liquors, producer of the Plata o Plomo brand, this May.
