Fairfax signs all-cash offer to buy wine producer Andrew Peller

Fairfax Financial Holdings Ltd. has signed an all-cash deal to acquire wine producer Andrew Peller Ltd. 

The deal represents a fully diluted equity value of around $397 million and $579 million on an enterprise basis.

“This agreement represents a compelling outcome for our shareholders, delivering immediate value and certainty while reflecting the strength of Andrew Peller’s portfolio and market position,” said Paul Dubkowski, CEO of Andrew Peller, in a press release. 

Dubkowski will remain Andrew Peller’s CEO and Renee Cauchi will remain Andrew Peller’s CFO. 

The rest of Andrew Peller’s current leadership team is also expected to continue in their current positions, the company said.

Shareholders will receive $8.00 per Class A share and $12.00 per Class B share.

Former president and CEO John Peller—who retired in early 2025—and “certain affiliates” have entered into an equity rollover agreement. They have agreed to exchange all Class A and Class B shares for shares in the capital of Fairfax.

Rollover shares represent about 15% of the issued and outstanding Class A shares and around  25% of the issued and outstanding Class B shares.

“The Peller family has been a leading name in wine in Canada for generations, and we look forward to working with the entire Peller team to continue the development and success of this great Canadian company over the long term,” said Prem Watsa, chairman and CEO of Fairfax.

The deal is subject to shareholder and regulatory approvals. It is expected to close in the third calendar quarter of 2026.

Andrew Peller’s wine brands include Peller Estates, Trius and Wayne Gretzky.