Monday, March 20, 2023

Lethbridge’s Black Velvet whisky distillery soon to be under new ownership

Lethbridge’s Black Velvet whisky distillery will soon be under new ownership.

Constellation Brands says it’s agreed to offload Black Velvet to American distilled spirits supplier, Heaven Hill Brands, for about $226-million.

The deal includes the production facility in Lethbridge along with a subset of Canadian whisky brands produced at that site.

Heaven Hill says Black Velvet is a historic, well-known, and high-volume brand that complements its broad distilled spirits portfolio.

The transaction is expected to close before the end of the year.

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