In recent months Foreign Affair Winery was sold to Corby Spirits and Wines for $6.2 million. The transaction between Foreign Affair and Corby was announced on August 25 of this year, noting they will acquire all of the company's shares and assets. Well, what does this mean for this Niagara winery, and what about the other wineries within the region? Perhaps it will allow for increased recognition for the VQA standard amongst the international wine market and increased interest in Niagara’s winery industry.
Foreign Affair Winery
The winery was originally founded in 2000 by the Crispino family. Foreign Affair Winery currently operates on a 40-acre vineyard located in the town of Vineland, nestled in the western part of the Niagara Region. The winery has a portfolio of red, white and rose VQA, including Temptress, Enchanted, Amarose, and the Conspiracy brands. Currently, these wines are sold onsite in the winery’s retail store, to wine club members, and through the LCBO. The winery was recognized as the first Canadian winery to craft wines exclusively applying the Italian appassimento technique. This form of winemaking is said to produce denser and more concentrated juices.
Corby Spirit and Wine Ltd.
Corby is a leading Canadian marketer and distributor of spirits and imported wines. They hold nearly 21% of spirit sales in Canada, representing a variety of the 25 top selling brands in the country. With the acquisition of Foreign Affair winery, Corby has added to their premium portfolio of products. Not only are Corby products sold in Canada but they are exported for sale in the United States, Europe, and other international markets. A few of the top brands that fall under the Corby portfolio include; Absolut Vodka, Polar Ice Vodka and Jacobs Creek, to name a few.
Niagara Recognition
The acquisition of Foreign Affair Winery may allow for increased sales and boost brand recognition for this winery and their products. Corby exports products for sale across the international market, allowing this winery to potentially grow recognition within the international wine market. Not only will this be a bonus for the winery itself, but could allow for increased recognition of the Niagara wine industry as a whole. VQA is already a well-known standard of wine amongst many, but the sale of the winery may increase VQA recognition globally.
Niagara has built a large part of their reputation on being one of the most recognized wine regions in Canada. Through the growing and sale of VQA wines in multiple channels, it allows wine connoisseurs from around the globe the opportunity to enjoy the variety of wines the region produces. Niagara receives a high volume of tourists who come specifically to experience the wineries our region has to offer, which fuel’s a large part of local economy. The sale of Foreign Affairs will hopefully bring more exposure to the Niagara wine industry and bring additional investors to the area who are interested in our delicious selection of wines.
Niagara Winery Investment Opportunity
A unique opportunity for Niagara is available: a successful winery property on the rich Beamsville Bench. The property is the current home of the trusted Mike Weir brand, and is over 50 acres of property, including 13 acres planted to established vines, 9,050 sq. ft. multi level hospitality building, 4,860 sq. ft. of production facility, office dwelling and even a cottage overlooking a pond. The Mike Weir Winery brand is also available, subject to further negotiations. For more information on this amazing investment opportunity, click here.
