GRIMSBY, Ont. — Andrew Peller Limited has announced plans to acquire three British Columbia-based wineries in the province’s Okanagan Valley — Black Hills Estate Winery, Gray Monk Estate Winery and Tinhorn Creek Vineyards — for $95 million.
According to Andrew Peller, the company has signed agreements to fully acquire Black Hills Estate Winery and Gray Monk Estate Winery, and has entered into a letter of intent to acquire Tinhorn Creek Vineyards.
“With our investment and resources, these wines have the potential to grow, develop and compete in the growing luxury-wine market around the world,” says John Peller, Andrew Peller Limited’s CEO.
According to Randy Powell, president of Andrew Peller Limited, there is a significant opportunity for growth in the Okanagan wine region. “Canadian consumers are becoming more interested in super and ultra-premium wines and these are some of the greatest brands in the country,” Powell says. “They complement our Western Canada VQA portfolio well and will significantly strengthen our presence in the region.”