Pernod Acquires Canadian RTD Player Ace Beverage For $124 Million

Pernod Ricard’s Canadian unit Corby has taken a 90% stake in RTD player Ace Beverage Group for C$165 million ($124m), with a path to full ownership via call options in 2024 and 2028. Established in 2020 through the merger of Cottage Springs and Ace Hill, Ace Beverage Group is among the RTD leaders north of the border, led by the flagship Cottage Springs brand, as well as Ace Hill, Cabana Coast, and Liberty Village.

“With ABG, Corby becomes a key player in the Canadian RTD market, giving the scale and synergies needed in this category. It is well aligned with our ambition of building a global RTD business and capturing our fair share,” said Fredrik Syrén, Pernod’s global managing director of RTD & Convenience.—Daniel Marsteller

Tagged : Ace Beverage Group, Corby, Pernod Ricard

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