Andrew Peller enters C$275 million ABL credit facility

By Wendy Van Sickle

Columbus, Ohio, June 13 – Andrew Peller Ltd. entered into a C$275 million asset-backed lending credit facility that matures on June 13, 2027, according to a news release.

Bank of Montreal is administrative agent and co-lead arranger with Royal Bank of Canada.

The credit facility replaces the company’s existing credit facility entered into on Dec. 8, 2020.

Proceeds will be used for working capital, acquisitions and general corporate purposes.

John Peller, chief executive officer of Andrew Peller said in the release that moving to an asset-backed facility allows the company to unlock the value of its assets while driving annual interest savings.

Based in Grimsby, Ont., Andrew Peller is a producer and marketer of wines and craft spirits.

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