Massive local winery takeover

September 11, 2017 1:52 pm

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A major wine producer and marketer has just announced its plans to buy three well-known Okanagan wineries.

Andrew Peller Ltd., which markets personal winemaking products and owns wine brands across Canada, will soon spend $95 million to buy Black Hills Estate Winery, Gray Monk Estate Winery and Tinhorn Creek Vineyards.

Already, the company has “definitive agreements” to acquire 100 per cent of Black Hills and Gray Monk, and has entered into a “letter of intent” to acquire 100 per cent of Tinhorn Creek.

In a press release, Andrew Peller said it expects to finalize all of the transactions by October of 2017.

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