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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Corby Spirit and Wine Limited    CSW.A   CA2183491083


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Corby Spirit and Wine : Donates $100,000 to Support the Canadian Bartending Community This Holiday Season

12/01/2020 | 07:31am EST

The donation is part of several initiatives Corby Spirit and Wine is undertaking during the holiday period to help service industry professionals during what is normally the busiest time of year

TORONTO, Dec. 1, 2020 /CNW/ - Corby Spirit and Wine today announced a $100,000 donation to the Bartenders Benevolent Fund in support of service industry professionals impacted by COVID-19 restrictions this holiday season. As the largest corporate donor to the Bartenders Benevolent Fund, the contribution is part of a wider commitment to the service industry made by the Canadian hospitality industry leader, and its partner Pernod Ricard USA across North America.  

Since March, more than 800,000 bartenders, servers, hosts and kitchen staff in Canada have experienced financial hardship from loss of employment, a decrease or complete loss of wages, and temporary lay-offs. To help Canadians get through this period, Corby Spirit and Wine has already undertaken several initiatives in support of affected groups and to protect those on the front lines working to control the spread of the virus. This latest donation acknowledges the continuing responsibility of the wine and spirits industry to help bartenders and others in the industry affected by the pandemic.  

"While we prioritize responsible drinking for the holiday season, this year we are expanding our definition of 'responsibility' to include our duty to support the professionals who need it most. Hospitality and foodservice workers from across Canada are the lifeblood of our industry, and as a spirits and wine leader, it's our duty to support the communities that are most important to us," said Nicolas Krantz, President, Chief Executive Officer of Corby Spirit and Wine. "That's why we're proud to be making today's donation, and to embark on several further initiatives designed to support those in need during what is traditionally the highlight of the hospitality calendar."

The donation to the Bartenders Benevolent Fund will be allocated via the non-profit's COVID-19 Support Fund to hospitality industry professionals facing financial crisis due to the pandemic. Allocated based on need, the fund is open to workers from across Canada and is anticipated to benefit a minimum of 400 bartenders.

"Our community of Canadian bartenders and hospitality workers, many of whom are already struggling with long-term loss of income, are facing a daunting holiday season" said Kelsey Ramage, Toronto-based hospitality industry manager and bartender. "This donation and Corby's continued support are a welcome boost to us at a critical time."  

Corby Spirit and Wine is also working with prominent bartenders from across Canada to create a coffee table book of more than 100 cocktail recipes and stories from Canadian bars and restaurants. All proceeds from the sales of A Toast from Coast to Coast will also go to the Bartenders Benevolent Fund & Canadian Professional Bartenders Association.

In addition, this December, Corby Spirit and Wine will take part in a further range of digital activations across the country, part of its wider efforts to support and give back to the service industry at this time of year.  

The organization encourages consumers to remember their bartenders this holiday season and consider making their own contributions.

About Corby Spirit and Wine

Corby Spirit and Wine Limited is a leading Canadian manufacturer, marketer and distributor of spirits and wines. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's®, Lot 40®, and Pike Creek® Canadian whiskies, Lamb's® rum, Polar Ice® vodka, McGuinness® liqueurs, Ungava® gin, Cabot Trail® maple-based liqueurs and Chic Choc® Spiced rum, and Foreign Affair® wines. Through its affiliation with Pernod Ricard S.A., a global leader in the spirits and wine industry, 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®, Stoneleigh®, Campo Viejo®, and Kenwood® wines. Corby is a publicly traded company based in Toronto, Ontario, and listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B. For further information, please visit our website or follow us on LinkedIn, Instagram, or Twitter. 

About the Bartenders Benevolent Fund
Created in 2013, the Bartenders Benevolent Fund is a nationally registered non-profit and financial resource for hospitality professionals in Canada. We are a volunteer based organization which provides support and resources to hospitality professionals across the country. We provide funding for those who have fallen under serious financial hardship, and programming to elevate our industry and those within it. For more information, please visit bartendersbenevolentfund.ca.

SOURCE Corby Spirit and Wine Communications

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
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CORBY SPIRIT AND WINE LIMITED 0.58% 17.4 Delayed Quote.2.96%
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Sales 2020 153 M 120 M 120 M
Net income 2020 26,7 M 20,9 M 20,9 M
Net cash 2020 76,8 M 60,3 M 60,3 M
P/E ratio 2020 17,4x
Yield 2020 5,17%
Capitalization 494 M 388 M 388 M
EV / Sales 2019 3,00x
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Nbr of Employees 177
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Nicolas Stanislas Krantz President, Chief Executive Officer & Director
George F. McCarthy Chairman
Edward Anthony Mayle Chief Financial Officer, Director & Vice President
Claude Boulay Director
Robert L. Llewellyn Independent Director
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