Corby Spirit and Wine, the Canadian spirits, wine, and ready-to-drink beverage manufacturer, has signed a definitive agreement to sell its Lamb’s rum brand and associated assets for C$39.2 million ($28.1 million).
Under the terms of the deal, Maison des Futailles, a subsidiary of Canadian beverage platform Phildan, has acquired the North American rights to the brand. Meanwhile, Glen Turner Company, a subsidiary of French spirits producer COFEPP, has acquired the brand rights for the rest of the world. The transaction includes all related intellectual property and brand inventories, with Corby providing post-closing transition support for production and distribution.
According to Corby, the divestment aims to sharpen focus on its priority growth platforms, including ready-to-drink beverages and premium spirits, while freeing capital and resources for higher-return opportunities.
Florence Tresarrieu, Corby president and CEO, commented: “The sale of Lamb’s is a disciplined portfolio management decision that supports Corby’s long-term strategy”, adding that “it 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”.
Source: Corby Spirit and Wine
