Liquor Barn Income Fund completes initial public offering and indirectly acquires 58 retail liquor stores
Date Closed
May 17, 2006
Lead Office
Vancouver
Value
56.00 Million CAD
On May 17, 2006, Liquor Barn Income Fund of Edmonton, Alberta completed its initial public offering of 5,664,574 trust units for gross proceeds of C$56,645,740. The proceeds of the offering were used by the Fund to indirectly acquire a 57.1% interest in Liquor Barn Limited Partnership, which, in turn, used the proceeds and borrowings under its credit facility to acquire 58 retail liquor stores in Alberta and British Columbia from eight independent operators, becoming the second largest operator of private liquor stores in Western Canada by number of stores.
McCarthy Tétrault LLP advised Liquor Barn Income Fund with a team led by Richard Balfour.