The Grimsby-based wine producer is 2nd-largest in Canada.
Niagara-based wine producer Andrew Peller of Grimsby has been sold to Fairfax Financial for $579 million dollars. The Peller portfolio includes more than 50 brands, such as Wayne Gretzky Estates.
The transaction represents an aggregate fully diluted equity value of approximately $397 million and $579 million on an enterprise value basis, in each case excluding the impact of the rollover shares, with $182 million devoted to paying off outstanding debt.
A sale agreement was announced on June 15th but only became official at the end of June.
It’s believed the current management team and employees will remain in place.
NRP Want Help After Horses Hurt
Niagara Families Connected to Doctor
Teenager Hurt in St. Catharines Stabbing
One Driver Arrested of Two Hit and Runs
Unifor and GM reach tentative contract agreement
Marineland ships another three belugas to San Diego
PM Carney says Canada will Meet U.S tariffs “Dollar for Dollar”
Province Investing in Niagara Businesses