Magnotta Winery Corporation, Ontario’s third largest winery, tannounced the purchase of the wine assets of Niagara-based Kittling Ridge Ltd. The transaction will transfer store licenses, wine listings, grape grower agreements and the Kittling Ridge name and trademarks to Magnotta allowing the Ontario winemaker and retailer to accelerate its growth and increase the number of its stores.
The Alcohol and Gaming Commission of Ontario has approved the deal that will see the Kittling Ridge brand continue as part of Magnotta’s portfolio which now includes Kittling Ridge’s signature Icewine and Brandy and Vidal Icewine products, complementing Magnotta’s leading position in this wine category.
“We are very pleased to have arrived at this agreement with Kittling Ridge,” said Rossana Magnotta, President and CEO, Magnotta Winery Corporation. “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.” Magnotta added, “We are also very excited to be working with the additional Ontario grape growers that are now part of our roster as a result of the deal and supporting the agricultural growth of the province. These relationships will play a key role in our success as we process more grapes and expand our 100% Ontario VQA product line.”