Forty Creek Distillery is being purchased by Italian premium spirits seller Campari, reports Reuters.
Read: Gifts for foodie clients
The deal is worth CAD $185.6 million. Campari says the deal will help it gain market share in North America. Forty Creek Distillery is well known for its whisky, but it also sells vodka, brandy and other liquors.
The deal values Forty Creek at 14.5 times EBITDA, says Reuters. It also includes a distillery and other properties in Canada.
Read more here.