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Diamond Estates Wines & Spirits Inc. Announces Leadership Change

·5 min read

NIAGARA-ON-THE-LAKE, Ontario, July 22, 2022--(BUSINESS WIRE)--Diamond Estates Wines & Spirits Inc. ("Diamond" or "the Company") (DWS-TSX Venture) is pleased to announce Andrew Howard as its new President & CEO effective August 1, 2022. Andrew is succeeding Murray Souter who is retiring after successfully leading Diamond Wines for the past 9 years of growth and expansion. Andrew will also replace Murray on the company’s Board of Directors.

Andrew is an experienced executive who joined Diamond with the acquisition of the Equity Wine Group in 2021. Most recently Andrew was the Chief Operating Officer of Diamond with responsibility for the Estate Wines Division. Andrew brings a strong background in the wines and spirits business to his new role.

"I look forward to working closely with Andrew to grow our established base and expand our reach in our existing and future markets. With Andrew’s experience, the Directors have full confidence that he will lead Diamond to its next level of growth," stated David Beutel, Chair of the Board of Directors of Diamond. "On behalf of the other directors, I would like to express my appreciation and gratitude for Murray’s leadership over the past 9 years. During his tenure, the company grew considerably into a leader in domestic wine production and expanded its sales channels in Canada and Internationally. In addition, our commercial division, Trajectory Beverage Partners, increased sales for some of the best beverage brands available in Canada. Under Murray’s leadership, Diamond has managed to navigate some difficult periods of global tension and health concerns, some of which still exist, to emerge a stronger entity," David continued.

Andrew has been involved with Equity Wine Group, owners of Creekside Estates and Queenston Mile Wineries, from its inception, and led that organization through its growth as a leading VQA company. Andrew has an extensive and relevant background having also been a senior executive with Arterra, Labatt and Pepsi prior to founding Equity Wine Group. Andrew is well known for his commitment to the Canadian wine industry and lead a premium import agency for several years. His experience and perspectives will add greatly to the company’s success. His knowledge of, and his passion for, our industry is welcome at this stage of the company’s and the industry’s growth cycle.

"Having admired Diamond for several years and then having the opportunity to join the company in 2021, I am honoured to have the opportunity to lead our team to the next stage of growth – both in revenue and profitability," stated Andrew. "Murray has built a very strong foundation. We have great people in place, eager to contribute to our ongoing and future success. I’m appreciative of all the work that has been done by the team to set us up for this moment in time and I am energized by the challenge of helping lead the company in the next stage of its evolution."

Murray will continue to be involved in Diamond in a consultative role and will provide counsel to the Board of Directors and CEO for the foreseeable future as well as assisting in special projects.

About Diamond Estates Wines and Spirits Inc.

Diamond Estates Wines and Spirits Inc. is a producer of high-quality wines and a sales agent for over 120 beverage alcohol brands across Canada. The Company operates five facilities (four wineries and one cidery), four in Ontario and one in British Columbia, that produce predominantly VQA wines under such well-known brand names as 20 Bees, Creekside, EastDell, Lakeview Wine Co, Queenston Mile, Backyard Vineyards, Dan Aykroyd, Shiny Apple Cider, Rood Apples Cider, Fresh Wines, Proud Pour, Seasons, Serenity, and Red Tractor.

Through its commercial division, Trajectory Beverage Partners, the Company is the sales agent for many leading international brands in all regions of the country as well as being a distributor in the western provinces. These recognizable brands include Josh wines from California, Fat Bastard, Meffre, Pierre Chavin and Andre Lurton wines from France, Brimincourt Champagne from France, Kaiken wines from Argentina, Blue Nun and Erben wines from Germany, Felix Solis wines from Spain, Calabria Family Estate Wines from Australia, Saint Clair Family Estate Wines from New Zealand, Redemption Bourbon and Rye whiskies from the U.S., Gray Whale Gin from California, Storywood and Cofradia Tequilas from Mexico, Magnum Cream Liqueur from Scotland, Talamonti and Cielo wines from Italy, Enoport wines from Portugal, Waterloo Brewing from Canada, Landshark Lager from the USA, Edinburgh Gin, Tamdhu, Glengoyne and Smokehead single-malt Scotch whiskies from Scotland, C. Mondavi & Family wines including C.K Mondavi & Charles Krug from Napa, Wize Spirits and Hounds Vodka from Canada, Bols Vodka from Amsterdam, Koyle Family Wines from Chile and Pearse Lyons whiskies and gins from Ireland.

Forward Looking Statements

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Diamond Estates Wines and Spirits Inc. to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the economy generally; consumer interest in the services and products of the Company; financing; competition; and anticipated and unanticipated costs. While the Company acknowledges that subsequent events and developments may cause its views to change, the Company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the views of the Company as of any date subsequent to the date of this press release. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220722005098/en/

Contacts

J. Murray Souter
President & CEO
Diamond Estates Wines & Spirits Inc.
jmurraysouter@diamondwines.com

Andrew Howard
Chief Operating Officer
Diamond Estates Wines & Spirits Inc.
ahoward@diamondwines.com