Corby hits ‘record-high’ FY sales
Pernod Ricard’s Canadian affiliate, Corby Spirit and Wine, saw full-year sales rise by 2% after double-digit gains for its ready-to-drink (RTD) brands.
Based in Ontario, Corby is the second largest marketer and distributor for spirits and wines in Canada, and is majority owned by Pernod Ricard, which distributes its products in the region.
Headquartered in Toronto, Corby saw its revenue reach CA$246.8 million (US$177.3m) for the year ending 30 June 2025, up by 8% on a reported basis.
Organic sales for the fourth quarter (Q4), which covers April to June, grew by 6% to CA$72m (US$51.7m).
The company attributed its increase to ‘strong shelf prominence’, local trade measures and the inclusion of RTD brand Nude, which Corby acquired in May last year.
Corby president and CEO Nicolas Krantz said the Q4 result led to “record-high revenue” for the fiscal year.
He continued: “In a volatile market environment, the strong performance highlights the effectiveness of our portfolio prioritisation strategy, and Corby’s continued excellence in sales execution.
“Our recent acquisitions in the RTD segment have yielded strong results and have supported our ability to grow rapidly to align with evolving consumer preferences and newly opened retail channels.
“This translated into strong financial results throughout the year, including growth in revenue and profitability as well as robust cash flow generation.”
Corby noted that it delivered a ‘standout performance’ during Q4 in a market that faces continued headwinds.
The Canadian producer and importer said that while the overall spirits category declined by 5% in value in Q4, Corby’s over-the-counter spirits sales grew by 4%, led by a push to increase shelf presence after the removal of US-made spirits in key provinces.
According to recent data from Spirits Canada, sales of American spirits plummeted by 66% in Canada after stores began pulling US products in response to Donald Trump’s tariffs, with Ontario hit the hardest.
Despite posting a 2% full-year drop in value for spirits, Corby said its spirits portfolio ‘outperformed the Canadian spirits market in value for three fiscal years in a row’. The Canadian spirits market saw its value fall by 5% in the 12 months ending June 2025.
This decrease was driven by a strike from workers at the Liquor Control Board of Ontario (LCBO) in July 2024 that resulted in ‘reduced purchasing patterns’, Corby noted.
Boost for RTDs
The RTD category was also affected by the LCBO strike during Corby’s first fiscal quarter (August-October 2024) but benefitted from the Ontario government’s plan to allow convenience stores to sell spirit-based RTDs from August last year.
Corby’s RTD portfolio soared by 22% in value in Q4, exceeding the overall category (up 9.1%) in Canada.
Full-year sales of Corby’s RTDs (excluding Nude) rose by 10%. The company noted that the RTD segment remained the fastest-growing category overall in the last 12 months, increasing by 7% in value.
The group’s domestic goods revenue rose by 1% in a ‘softer spirits market’, Corby said.
Export revenue declined by 12% due to the ‘unfavourable phasing of shipments to the US’. Corby’s products are exported to international markets such as the US and Europe.
Outlook
Looking ahead, Krantz added: “Our focus remains on outperforming the wider spirits and RTD categories in fiscal 2026.
“This will be achieved through disciplined execution of strategic priorities across our spirits brands, continuing the strong momentum of our RTD portfolio, and leveraging digital tools to aid in optimising return on investment on advertising and promotion, pricing strategy, and sales execution.”
Corby’s portfolio of owned brands includes the JP Wiser’s, Lot 40, and Pike Creek Canadian whiskies, Lamb’s rum, Polar Ice vodka and McGuinness liqueurs, as well as RTD brand Cottage Springs.
Corby took a 90% stake in Canada’s leading RTD producer, Ace Beverage Group, in June 2023. The deal includes a path to full ownership through two call options that can be exercised in 2025 and 2028.
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