Andrew Peller, a family-owned Canadian wine producer, has been acquired by Fairfax Financial in an all-cash transaction. The deal values the company at C$579 million ($413.8 million).
The transaction offers class A shareholders C$8 per share and class B shareholders C$12 per share, representing significant premiums over recent trading prices.
Andrew Peller attributed the sale to a strategic review, while CEO Paul Dubkowski emphasized the partnership with Fairfax as a long-term opportunity for growth in the Canadian wine industry.
Key shareholders, including Peller Family Enterprises and John Peller, have agreed to roll over their stakes into Fairfax, securing their positions in the new ownership structure.
Fairfax plans to retain Dubkowski and CFO Renee Cauchi, ensuring continuity in leadership as the company transitions under its new ownership.
The deal is expected to close in the third quarter, pending shareholder and regulatory approvals.
