Prime Drink Group, a Quebec-based drinks company, has announced it has entered into an agreement to acquire Triani, a manufacturer and distributor of alcoholic and non-alcoholic beverages, for C$38 million ($30.1 million).
Founded in 2015, Triani is known for the Cantini, Ettaro and Enjoy wine brands. It also produces and markets Octane, Mojo, Baron, and Seagram malt-based alcoholic beverages, as well as non-alcoholic products under the Hickson brand in Canada and the USA.
Commenting on the acquisition, Prime Drink Group’s newly appointed chief of branding and innovation Olivier Primeau said: “I am thrilled and deeply proud of this major transaction, which represents the culmination of a goal I have ardently pursued since my initial investment in the company. With unwavering confidence, we believe that our combined expertise in sales, marketing, and production will serve as the catalyst to unlock Triani’s full potential, propelling Prime into a new era of growth across North America”.
Triani CEO Tristan Bourgeois Cousineau added: “The expansion of our processing facility to over 100,000 sf underscores our commitment to catering to a growing clientele, which includes the production of well-established brands. Our strategic alignment with Prime is expected to facilitate the expansion of our operations and expertise across North America”.
On completion of the transaction, Prime Drink Group plans to change its name and trading symbol.
Source: Prime Drink Group (via GlobeNewswire)