Deal snapshot: ALCANNA TO ACQUIRE 28 SOLO LIQUOR STORES FOR USD 12.4M.
MANews-(C)2009-2019
Canada-based Liquor Retailers Alliance Ltd. Partnership (Alliance), which is 71% owned by Canada-based alcohol retailer Alcanna Inc. (TSX: CLIQ), has entered into an agreement with FTI Consulting Canada Inc. in its capacity as court-appointed receiver and manager of the assets, properties and undertakings of Solo Liquor Stores Ltd. and Solo Liquor Holdings Ltd, to acquire underlying assets of 28 Solo Liquor stores, the company said.
Under the terms of the agreement, the Alliance will also acquire three additional leased locations that have not yet been opened, the Solo Liquor brand and related trademarks in exchange for CDN 12.4m plus inventory estimated at CDN 3.4m. The acquisition, which will be funded by the company's...
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