Groupe Prime Drink Finalizes Acquisition of Triani Canada

Deal News | Nov 02, 2024 | Globenewswire

Groupe Prime Drink Finalizes Acquisition of Triani Canada

Groupe Prime Drink Corp., a Quebec-based beverage company, has successfully completed the acquisition of Triani Canada Inc. for a transaction involving 91,200,000 Prime shares valued at CAD 11.4 million and 11,200,000 warrants. Based on an amended share purchase agreement, Groupe Prime secured ownership from 9296-0186 Quebec Inc. and Angelpart Ventures Inc., with the potential for additional contingent payments of up to CAD 23.5 million. Following the acquisition, Triani becomes a wholly-owned subsidiary of Prime, enhancing its capabilities in producing and distributing alcoholic and non-alcoholic beverages across North America. In support of the transaction, Prime issued a total of 12,275,400 subscription receipts and 1,000 units in private placements for a gross total of CAD 8.67 million, converting these into additional Prime shares and warrants. The transaction allows Prime to broaden its portfolio and continue as a significant player in the beverage industry, marked by strong assets and an expanded executive team.

Sectors

  • Beverage Industry
  • Private Equity

Geography

  • Canada – The location is relevant as both Groupe Prime Drink Corp. and Triani Canada are headquartered and operate primarily in Quebec, Canada.

Industry

  • Beverage Industry – This industry involves the production and distribution of drinks, both alcoholic and non-alcoholic. The acquisition of Triani Canada by Groupe Prime Drink reinforces its role in the beverage industry, offering a range of products from malt-based alcoholic beverages to microbrewery beers.
  • Private Equity – The acquisition involves a strategic financial transaction typical in private equity dealings, where Prime Group is expanding its portfolio through ownership acquisition.

Financials

  • CAD 11,400,000 – Initial acquisition value through the issuance of 91,200,000 Prime shares at CAD 0.125 per share.
  • CAD 23,500,000 – Contingent additional payment by Prime shares based on Triani meeting certain EBITDA targets.
  • CAD 8,672,125 – Total gross proceeds from the Subscription Receipts and Units financing.

Participants

NameRoleTypeDescription
Groupe Prime Drink Corp.Bidding CompanyCompanyGroupe Prime Drink is a Quebec-based beverage corporation aiming to expand its portfolio in the beverage sector.
Triani Canada Inc.Target CompanyCompanyTriani Canada is a beverage company specializing in alcoholic and non-alcoholic drinks production and distribution across North America.
9296-0186 Quebec Inc.VendorCompanyOne of the selling parties of Triani Canada to Groupe Prime Drink.
Angelpart Ventures Inc.VendorCompanyAnother selling entity involved in Triani Canada's transaction to Groupe Prime Drink.