Founded in 1990 by Gabe and Rossana Magnotta, Magnotta Winery Corporation is Ontario, Canada’s third largest winery. Headquartered in Vaughan, Ontario, a few minutes north of Toronto, it is the only company of its kind in Canada licensed to produce and sell wine, beer, and distilled beverages. The company trades on the Toronto Stock Exchange and is a Platinum member of Canada’s 50 Best Managed Companies. It is also a recipient of Vaughan’s Business of the Year Award.
Magnotta primarily sells direct to the consumer. They offer high-quality, low-cost alternatives to wines typically sold through the Ontario Government’s LCBO (Liquor Control Board of Ontario) stores. However, they do sell some of their Ice Wines in select LCBO stores in Ontario. The company sells their products from their own retail locations, which are in the Greater Toronto Area, Southwestern Ontario, and in the grape growing region of the Niagara Peninsula.
Magnotta’s 75,000 square foot flagship facility resides in the city of Vaughn. This facility opened in 1997 and contains the head office, a state-of-the-art wine making operation, a microbrewery, a copper pot distillery, and a wine boutique. It also houses an extensive art gallery with paintings and sculptures.
The company’s Magnotta facility in Beamsville, Ontario is in the heart of Niagara’s grape growing region. This facility is a modern grape crushing enterprise and a retail wine outlet. Magnotta also has more than 180 acres of vineyards in this premier grape growing region of Niagara. In addition, the company also owns over 351 acres of vineyards in the Maipo Valley in Chile. This is a highly desirable growing region, and Chilean wines are taking their place in the wine industry.
Along with wines, Magnotta sells gourmet food items and accessories. They also provide winemaking facility tours, have product tasting bars, and sponsor weekly in-store events at their retail locations. They are Canada’s most award-winning company, having won, to date, over 2,500 awards for product excellence. Magnotta markets their products in British Columbia, Alberta, Ontario, Quebec, Eastern Canada, the United States, Taiwan, and Japan.
This month the company announced their financial results for the second quarter ended July 31, 2008. Net sales for the quarter ended July 31, 2008 increased 2.9 percent to $5,855,645 from $5,692,474 for the same period last year. For the six month period, net sales increased 2.4 percent to $11,919,054 from $11,641,520 for the corresponding period of the prior year. Net earnings increased 4.3 percent to $787,960 from $755,574 for the three month period and increased 3.6 percent to $1,655,750 from $1,598,869 for the six month period ended July 31, 2007.
Magnotta maintains their commitment to great wines at affordable prices. They strive to give great selection and service in all their retail locations. They have a crush on grapes and hope their customers and shareholders see the value in their product for a long time to come.
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