Andrew Peller shopping 3 B.C. wineries for $95M

Andrew Peller Ltd. said Monday it has sealed deals to acquire 3 B.C. wineries for a total cost of $95 million.

The Ontario-based booze writer says it has sealed decisive agreements to acquire Black Hills Estate Winery and Gray Monk Estate Winery and a minute of vigilant to acquire Tinhorn Creek Vineyards.

Andrew Peller arch executive John Peller says a association has long-admired a 3 wineries, though a timing of a deals is quite coincidental.

“We’re shopping them to deposit resources into them so that they can grasp their ultimate goals and visions,” he said.

He says a understanding will give a wineries entrance to collateral as good as sales and selling support that they did not have on their own.

“Our idea is to deposit in a enlightenment and bequest that they’ve determined and afterwards be in a position where we can supplement resources to their skeleton going forward,” he said.

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Black Hills Estate is located on a Black Sage Bench segment nearby Oliver, B.C., and is a writer of Nota Bene, a reward red wine.

Gray Monk, founded in 1972, is located north of Kelowna, B.C., while Tinhorn Creek Vineyards is on a Golden Mile Bench, nearby Oliver.

Peller already owns several wineries in B.C. including Sandhill, Red Rooster Winery and Calona Vineyards as good as wineries in Ontario and Nova Scotia.

Andrew Peller pronounced a understanding will be saved by a multiple of $78 million in money from a company’s credit lines and $17 million value of category A common shares.

The association says it expects to tighten all of a deals by a finish of October.

Article source: http://www.cbc.ca/news/business/andrew-peller-wineries-1.4284549?cmp=rss