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Press release from CNW Group

Corby Distilleries announces closing of sale of selected brands and manufacturing facility

Tuesday, November 01, 2011

Corby Distilleries announces closing of sale of selected brands and manufacturing facility10:05 EDT Tuesday, November 01, 2011TORONTO, Nov. 1, 2011 /CNW/ - Corby Distilleries Limited ("Corby" or the "Company") (TSX:CDL.A) (TSX:CDL.B) announced today the closing of the previously disclosed transaction, after the market close on October 31, 2011, concerning the sale of certain owned-brands including De Kuyper Geneva gin, De Kuyper Peachtree schnapps, Red Tassel vodka and Silk Tassel Canadian whisky, as well as the shares of its subsidiary that owns the manufacturing and bottling facility in Montréal, Québec, to Sazerac Company, Inc. ("Sazerac") for a purchase price of $39.4 million, including the value of inventory on hand at closing.About Corby Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including Wiser's Canadian whisky, Lamb's rum, Polar Ice vodka and McGuinness liqueurs. Through its affiliation with Pernod Ricard S.A., Corby also represents leading international brands such as ABSOLUT vodka, Chivas Regal, The Glenlivet and Ballantine's Scotch whiskies, Jameson Irish whiskey, Beefeater gin, Malibu rum, Kahlúa liqueur, Mumm champagne, and Jacob's Creek, Wyndham Estate and Graffigna wines. The existing Voting Class A Common Shares and Non-voting Class B Common Shares of the Company are traded on the Toronto Stock Exchange under the symbols CDL.A and CDL.B, respectively.About SazeracFollowing its establishment in 1850, Sazerac has distilled an ever-increasing line of fine spirits. Sazerac is an independent, American family-owned company and the proud owner of many of America's most venerable distilling companies: Buffalo Trace Distillery, A. Smith Bowman, Glenmore Distillery, Barton, Fleischmann, Medley and Mr. Boston.For further information: CORBY DISTILLERIES LIMITED   SAZERAC COMPANY, INC.Thierry Pourchet, Vice-President & CFO  Amy Preske, Public Relations DirectorTel.: 416-479-2400     Tel.: 502-696-5957