Magnotta Wine Corp, which is based in Vaughan, has acquired the assets of Kittling Ridge, which includes wine listings and agreements with Niagara region grape growers. The sale has also been permitted by the Ontario Alcohol and Gaming Commission. The dollar amount of the agreement was not released.
All licenses through retail stores were also included in the deal, which will now provide Magnotta with outlets at six boutique wine shops, including Kittling Ridge branches in Toronto Superstores, No Frills and Sobeys.
When retailers expand their operations and absorb new companies, there is always a need for printing, from business card printing to the reproduction of labels, order Forms, inventory lists, and store signage.
In a prepared statement, Rossana Magnotta, CEO of Magnotta Wine, said:
“Opening new retail locations in Ontario's regulated wine industry is only possible through the acquisition of existing licenses. This purchase allows us to add new stores to our chain and build on our over 20-year retail success while evolving the Kittling Ridge brand."
While Magnotta has taken over the company, which includes all 180 acres of Niagara region vineyards, the Kittling Ridge brand will continue as part of Magnotta’s portfolio. This includes the brand’s Icewine and Brandy and Vidal Icewine products. These will continue to be offered in stores across the country and will be available for export.
Magnotta went on to express her excitement at the new deal, saying it would allow the company to work with new roster of Ontario grape growers.
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