Corby Sells Lamb’s Rum Brand for C$39.2 Million

Corby Spirit and Wine has sold the Lamb’s rum brand and related assets for C$39.2 million, splitting control of the label between a Canadian buyer for North America and a French group for the rest of the world.

The Toronto-based company said in a statement released on Wednesday that Maison des Futailles, L.P., a subsidiary of Phildan Inc., acquired the North American rights to Lamb’s, while Glen Turner Company Limited, a subsidiary of COFEPP SAS, bought the rights outside North America. The deal also covers the brand’s intellectual property and inventories on hand at closing, with the final price still subject to customary adjustments.

The transaction redraws the ownership map of a rum brand with a long presence in Canada and the United Kingdom. It also gives Corby cash and management room to focus on the categories it sees as more important to its growth, including ready-to-drink beverages and premium spirits.

Florence Tresarrieu, Corby’s president and chief executive, described the sale as a portfolio decision tied to the company’s longer-term strategy. In the company’s statement, she said the move would allow Corby to direct more resources toward higher-priority categories, strengthen its finances and continue investing in brands and innovations expected to drive future growth.

Corby did not disclose the gain it expects to book from the sale, Lamb’s current revenue or the brand’s contribution to profit. The company said only that the C$39.2 million price includes inventories and remains subject to the usual closing adjustments.

The company also said it will continue to provide temporary support after closing. Under the agreement, Corby and affiliated companies will help the buyers with production and distribution for a period that was not specified. That kind of transitional arrangement is common in beverage deals when manufacturing, warehousing and route-to-market systems need time to shift from a seller to new owners.

For Phildan, the purchase adds a well-known rum name in North America. Hugues Gauthier, president of Phildan, said in the statement that Lamb’s is one of Canada’s most recognized rum brands and that the acquisition would strengthen the group’s spirits portfolio.

For Glen Turner and its parent COFEPP, the attraction appears to be Lamb’s standing outside North America, especially in Britain. Christophe Pichambert, international director at La Martiniquaise-Bardinet, said in the statement that Lamb’s is a well-established brand in the United Kingdom and fits the group’s existing portfolio and strategic goals.

The sale stands out because it divides a global spirits brand by geography rather than transferring all territories to one owner. That structure suggests that Lamb’s carries different strengths in different markets and that the buyers see separate opportunities in those regions.

Corby framed the deal as part of a broader effort to simplify its business. The company said the sale sharpens its focus on priority growth platforms, frees capital and resources for higher-return opportunities and supports long-term profitability and shareholder value.

That direction is consistent with where many spirits companies have been moving in recent years. Producers and distributors have been putting more emphasis on premium labels, faster-growing ready-to-drink products and brands where they believe they have stronger pricing power or better expansion prospects. Rum remains an important category globally, but portfolio reviews have become more common as drinks groups decide where to place investment.

Lamb’s recent scale, based on previously published data, helps explain the context of the transaction. In the fiscal year ended in June 2025, the brand shipped 381,000 nine-liter cases, up from 377,000 a year earlier. That was an increase of about 1%. The brand’s value rose 2% over the same period. Corby did not provide a 2026 update on Lamb’s performance in the sale announcement.

Even without current sales figures, the shipment data suggest Lamb’s remained a meaningful but not fast-growing label inside a portfolio that includes Canadian whisky, vodka, liqueurs, wine and ready-to-drink products. Corby’s owned brands include J.P. Wiser’s, Lot 40 and Pike Creek Canadian whiskies, Polar Ice vodka, McGuinness liqueurs, Cottage Springs and Nude ready-to-drink beverages, and Foreign Affair wines. Through its relationship with Pernod Ricard, the company also represents a range of international labels in Canada.

That mix helps explain the strategic logic behind the sale. By exiting Lamb’s, Corby can concentrate capital on brands and categories where it appears to see stronger long-term returns, while Lamb’s moves to owners that may have more incentive to build the brand in their respective territories.

The company said its board of directors approved the transaction. It did not say when the transition services will end or whether the buyers plan any immediate changes to production, distribution or brand positioning in the markets they now control.

Corby is publicly traded on the Toronto Stock Exchange and is one of Canada’s larger spirits and wine companies, with activities that range from manufacturing to marketing and distribution. The Lamb’s sale gives the company a cleaner portfolio and brings in C$39.2 million in proceeds, but the financial impact will not be fully clear until Corby reports how the customary adjustments, transition arrangements and any accounting gain are handled in future filings.