Headquartered in Toronto, Ontario, Corby Spirit and Wine Limited is a foremost Canadian manufacturer, marketer, and distributor of spirits and imported wines. The Company is affiliated with Pernod Ricard S.A. – a worldwide leader in the spirits and wine industry.
Corby owns or represents many of the 25 top-selling brands in Canada. Its portfolio of owned-brands includes J.P. Wiser’s ®, Lot 40®, and Pike Creek® Canadian whiskies, and Lamb’s® rum, Polar Ice® vodka and McGuinness® liqueurs.
As part of the transaction announced on August 31, 2016, and closed on September 30, 2016, Corby Spirit and Wine acquired the following brands from Domaines Pinnacle:
- The Ungava® Premium Canadian gin brand
- Chic Choc® Spiced rum
- Coureur des Bois® and Cabot Trail® maple whisky and maple cream liqueurs
In addition, Corby acquired production assets and related inventory located in Cowansville, Quebec from Domaines Pinnacle.
Ungava Spirits Co. Ltd., the new, wholly-owned Corby subsidiary based in the present location of the spirits business in Cowansville will operate the brand portfolio and other assets acquired by Corby.
Corby Spirit and Wine has roughly 21% of spirits sales in Canada. By way of its affiliation with Pernod Ricard, the Company represents top global brands. These include:
- ABSOLUT® vodka
- Chivas Regal®
- The Glenlivet® and Ballantine’s® Scotch whiskies
- Jameson® Irish whiskey
- Beefeater® gin
- Malibu® rum
- Kahlúa® liqueur
- Mumm® champagne
- Jacob’s Creek®, Wyndham Estate®, Stoneleigh®, Campo Viejo®, Graffigna® and Kenwood® wines.
This week, Corby Spirit and Wine reported its financial results for Q1 ended September 30, 2016. The Company reported Net Earnings of $6.4 million (or $0.23 per share) for Q1. This represents an improvement of $0.1 million or 2% versus the same quarter in 2015.
Mr. Patrick O’Driscoll, Corby Spirit and Wine’s President and Chief Executive Officer, said, “First quarter earnings showed a modest improvement, as we move into our second quarter and the ever important retail holiday season. Reduced US advertising and promotional spend reflects our strategy to focus on our more premium craft Canadian whisky offerings in only select whisky-centric markets. We are also pleased to begin working with our newly acquired brands, which immediately provide the Corby-owned brand portfolio with a presence in segments not previously represented.”
For Fiscal Year (FY) 2016, ended June 30, 2016, Corby Spirit and Wine’s Revenue growth was propelled mainly by increased commission revenue on sales of Pernod Ricard brands. The Company’s Net Earnings profited from the increased commission revenue on sales of Pernod Ricard brands, as well as reduced advertising and promotional investment in the United States market.
Corby works closely with Hiram Walker & Sons Ltd. (also affiliated with Pernod Ricard). Most of the Corby-owned brands are blended and bottled at the Hiram Walker facility in Windsor, Ontario, managed by Corby Spirit and Wine.
For FY 2016, regarding its Canadian Craft Whiskies, Corby had a 130% increase in shipments. In addition, pertaining to Jameson Irish Whiskey, Corby had 19% growth in shipment volume change versus FY 2015.
On January 8, 2016, Corby Spirit and Wine paid a special dividend of $0.62 per share. This resulted in a cash distribution to shareholders of about $17.7 Million. This week, the Company’s Board declared a dividend of $0.21 per share payable on December 9, 2016 on the Voting Class A Common Shares and Non-Voting Class B Common Shares of Corby. Corby’s dividend yield is 4.17%.