In June last year, Corby acquired a 90% holding in Ace Beverage Group, a Canadian RTD business that owns the Cottage Springs, Ace Hill and Cabana Coast brands, for almost US$124m. The affiliate has announced this week that through Ace Beverage (ABG), it has spent CAD11m (US$8m) on Nude, a five-strong line of spirits-based premixes.
The purchase, from current owner MXM Beverages, is due to close by the end of June.
“Following last year’s successful integration of ABG’s brands into our combined RTD portfolio, which now includes Cottage Springs, Absolut, Malibu, Jameson, Polar Ice and JP Wiser’s, we are delighted at this unique opportunity to reinforce our position in this attractive segment, with the ambition to become the leading RTD portfolio in Canada,” said Corby CEO Nicolas Krantz.
“This transaction will help further drive additional innovation and unlock synergies in a critical growth category for our business.”
Vancouver-based Nude debuted in 2017 with what it claims was Canada’s “first ready-to-drink 5% sugar-free vodka soda”. Since then, the range has grown to include gin- and tequila-based variants, alongside alcoholic lemonades and the Nearly Nude extension, all of which have an ABV of 5%.
