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.
Kristen French Centre Battling Online Luring
Niagara's Crime Severity Rate Drops
Man Dies in Niagara Falls Motorcycle Crash
2nd Niagara Falls Murder Suspect Arrested
Suspect Wanted After Cables Cut
Candidates Splurge on Election Signs
Homeless, City Finances Top Candidate's Concerns
Police Investigation Resolved