- Andrew Peller Limited (ADW) has acquired Niagara’s Riverbend Inn
- The company paid C$10 million for 100% ownership of the business assets and the property
- The Inn was opened in 2004 and has a successful and profitable track record
- Andrew Peller Limited is one of Canada’s leading producers and marketers of quality wines and craft beverage alcohol products
- Andrew Peller Limited’s Class A shares (ADW.A) are up 1.12 per cent and are currently trading at C$9.94 per share
Andrew Peller Limited (ADW) has acquired Niagara’s Riverbend Inn.
The company paid C$10 million for 100% ownership of the business assets and the property.
The Riverbend Inn and Vineyard in Niagara-on-the-Lake, Ontario contains 17 acres of prime vineyards and a 21-room hotel and restaurant situated directly adjacent to the company’s Peller Estates Winery.
The Georgian-style inn was opened in 2004 and has a successful and profitable track record as a choice destination in the Niagara Region. It will re-open in the spring under new management with investments made to enhance its unique hospitality offering.
John Peller, the company’s Chief Executive Officer, commented,
“We are proud to welcome The Riverbend Inn and Vineyard to the Andrew Peller family. Looking ahead, we are confident the acquisition will generate a strong and growing contribution to our earnings in the coming years.”
The current owners of the property will be retiring upon the completion of the transaction.
“We are very pleased that our neighbours and friends are acquiring the Inn and the Vineyards, and excited that our heritage of providing one of the region’s highest quality hospitality experiences will be only enhanced under their new ownership,” added Ms. Jane Yu, the Riverbend’s owner and manager.
Andrew Peller Limited is one of Canada’s leading producers and marketers of quality wines and craft beverage alcohol products. The company owns and operates 101 independent retail locations in Ontario under The Wine Shop, Wine Country Vintners and Wine Country Merchants.
Andrew Peller Limited’s Class A shares (ADW.A) are up 1.12 per cent and are currently trading at C$9.94 per share as of 2:11 pm EST.