Corby and Pernod extend distribution deal

Canada-based distributor Corby Spirit and Wine and parent company Pernod Ricard have extended their distribution partnership for another year.

Corby Spirit and Wine handles Pernod brands, such as Absolut Vodka, in Canada

The amended agreement will be effective from July 2017 and will run until June 2018. It was approved by Corby’s independent committee following review.

French drinks group Pernod Ricard, maker of The Glenlivet Scotch and Absolut Vodka, is a stakeholder in Corby, with shares in excess of 50%.

In its last financial year, Corby Spirit and Wine celebrated “strong” results, which it attributed to an increase in commission rates on Pernod Ricard brands.

On a full year basis, the firm saw net earnings grow US$5.0 million (25%) to US$25.4 million ($0.89 per share).