January 20, 2012
Magnotta Winery Corporation (“Magnotta”) announced the completion of its going-private transaction pursuant to which Magnotta Family Holdings Ltd. (“Magnotta Holdings”), a corporation controlled by members of the Magnotta family, effectively acquired all of the Magnotta’s outstanding common shares (other than those held by Magnotta Holdings and the Magnotta family) at a price of $2.90 per share.Magnotta is Ontario’s third largest winery and the only company of its kind in Canada licensed to produce and sell wine, beer and distilled products. With over 3,500 awards to date for product excellence, Magnotta is Canada’s most award winning winery.
Wildeboer Dellelce LLP acted for Magnotta Holdings with a team that included Rob Wortzman, Nick Gray and Andrea Kim (corporate/securities), Chris Partridge and Amy Hastings (debt products) and Kevin Fritz (tax).