Thirst for Canadian-made booze boosts Corby spirits

Corby Spirit and Wine Ltd. has seen a boost in revenue for its Canadian brands in the fourth quarter of fiscal 2025, thanks to provincial trade measures that removed American alcoholic drinks from shelves. The company reported a revenue of $72 million for the quarter ended June 30, an eight per cent increase from the same period a year ago.

CEO Nicolas Krantz attributed the company’s success to its proudly Canadian sales execution, with its commission and local brands gaining share as U.S.-origin spirits were removed from shelves across most provinces. This shift away from U.S. brands created an opportunity for Corby to capitalize on the market.

Earlier this year, provinces such as Ontario, British Columbia, Quebec, Nova Scotia, and Newfoundland and Labrador announced that they would stop stocking and selling some or all U.S.-produced alcohol until President Donald Trump’s tariffs were dropped. For example, the Liquor Control Board of Ontario (LCBO) announced on March 4 that it would stop selling U.S. products in response to the tariffs.

Following the removal of U.S.-origin spirits in key provinces, Corby’s over-the-counter sales of spirits grew four per cent in the fourth quarter. Additionally, its ready-to-drink products surged 22 per cent, outperforming the overall ready-to-drink category.

For fiscal 2025, Corby reported revenue of $246.8 million, a seven per cent increase from the prior year, with net earnings of $27.4 million, a 15 per cent year-over-year increase. Despite a decline in retail sales of spirits in Canada, the company saw growth in ready-to-drink beverage sales, driven by shifting consumer preferences and expanding distribution points.

Overall, Corby’s success in the fourth quarter can be attributed to its strategic response to the removal of U.S.-origin spirits in key provinces, showcasing the company’s ability to adapt to market changes and capitalize on new opportunities.

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