Diamond Estates Wines & Spirits Ltd.

Diamond Estates Wines & Spirits Ltd.

July 08, 2008 11:11 ET

Diamond Estates Wines & Spirits Ltd. Acquires 20 Bees Winery

TORONTO, ONTARIO--(Marketwire - July 8, 2008) - Diamond Estates Wines & Spirits Ltd, the award-winning wine and spirits distribution and marketing agency company that owns EastDell Estates, Lakeview Cellars and Birchwood Estates wineries and Dan Aykroyd Wines, has acquired the 20 Bees Winery (originally owned by Niagara Vintners Inc.), announced Murray Marshall, President & CEO of Diamond Estates Wines & Spirits.

The 20 Bees winery is a 43,000-square-foot facility located on approximately 29 acres of land on Hwy# 55 in the town Niagara-on-the-Lake. This area is often referred to as the Golden Mile and will be a very attractive retail and agri-tourism location. The winery produces a number of Vintners Quality Assurance (VQA) varietal wines including Chardonnay, Riesling, Cabernet Merlot, Baco Noir, Pinot Grigio and Vidal Icewine.

"The acquisition of the 20 Bees Winery is a perfect fit in our growth strategy as the winery's production facility meets our company's long term winemaking needs. As well, the brand is a strong fit into our brand management and distribution capacity," said Marshall.

Diamond Estates' currently produces over 100,000 cases of VAQ wine annually from its wineries (Lakeview Cellars, Dan Aykroyd Wines, Birchwood Estates, EastDell Estates) and plans to retain the 20 Bees brand as well as add some additional brands. With this acquisition, the company intends on ramping up production to meet its corporate grape processing requirements, which in 2008 will exceed 2000 metric tons, making it one of the top 5 purchasers of Ontario VQA grapes.

"We are in a very strong growth position and continue to seek further brand and acquisition opportunities. With our recent LCBO ELSIE Award for Best New Wine Brand Launch for Dan Aykroyd Wines, we have proven that we have the ability to create new and compelling wine brands and that as a team we can successfully develop the marketing support programs to bring these brands to the Canadian marketplace," said Marshall.

Terms of the deal were not disclosed.

Diamond Estates Wines & Spirits Ltd. is an award-winning wine and spirits distribution and marketing agency for various international brands across Canada. Since inception, the company has grown to become one of Canada's top agencies representing some of the most compelling domestic and international beverage alcohol brands in today's marketplace.

For more information about Diamond Estates Wines & Spirits, please visit www.diamondwines.com.

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