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Diamond Estates Wines & Spirits Inc. successfully completes acquisition of Perigon Beverage Group

Oct 09, 2024•12 months ago

Acquiring Company

Diamond Estates Wines & Spirits

Acquired Company

Perigon Beverage Group

Niagara-On-The-LakeEtobicokeFood and BeverageFood and BeverageManufacturing

Description

Diamond Estates Wines & Spirits Inc. has closed its acquisition of certain assets from the Perigon Beverage Group, including the agency and supplier contracts, intellectual property, and other intangible assets. The purchase price of $1.799 million is based on Perigon's latest financial results, and will be satisfied by the issuance of common shares of Diamond in four tranches over an eighteen-month period following the closing.

Company Information

Company

Diamond Estates Wines & Spirits

Location

Niagara-On-The-Lake, Ontario, Canada

About

Diamond Estates Wines and Spirits Inc. is a producer of high-quality wines and ciders as well as a sales agent for over 120 beverage alcohol brands across Canada. The Company operates four production facilities, three in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, Creekside, D'Ont Poke the Bear, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh Wines, Red Tractor, Seasons, Serenity and Backyard Vineyards.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed