Corby Distilleries, a Canadian marketer of spirits and imported wines, will continue to have exclusive representation rights of Absolut vodka in Canada under a new $10.3m agreement signed with The Absolut Company Aktiebolag.
As per the agreed terms, Corby will retain its exclusive right to represent Absolut vodka in Canada from 30 September 2013 through 29 September 2021, consistent with the term of representation for other Pernod Ricard brands in Corby's portfolio.
Absolut sells about 11 million nine liter cases every year. According to Corby, the brand complements its strategy, and enhcances its premium brands portfolio.
Corby Distilleries board of directors chairman George McCarthy said that the company is pleased to enter into the agreement extending the Canadian representation term for the iconic Absolut vodka brand.
"Ensuring that one of the world's most recognized and innovative brands remains in the Corby portfolio for the long-term allows us to continue pursuing our strategy of focusing upon premium brands to deliver value to shareholders," added McCarthy.
Corby claims to hold 21% share in the vodka category in Canada with Absolut and other key brands such as Polar Ice.
Corby Distilleries is engaged in the manufacture and marketing of spirits and imported wines in Canada. The company's portfolio of owned brands include Wiser's Canadian whisky, Lamb's rum, Polar Ice vodka, McGuinness liqueur, Lot 40, and Pike Creek Canadian whisky.
