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.
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