The site in Amherstburg, Ontario, was closed earlier this year.
The brand owner extended its "multi-year" global sponsorship agreement with F1 last year.
'[Tuborg-sponsored festival] Grøn is about community and about making sure everyone can take part.'
The vineyards produce 'mainly dry commercial red and sparkling [grapes], as well as fortified'.
'Aviation American Gin remains an important part of Diageo's portfolio.'
'The acquisition means a stronger position in the specialty beer segment and in non-alcoholic beverages.'