Carlsberg Beer Acquires Major Canadian Craft Brewery

On December 14^th, Danish multinational brewer, Carlsberg announced the purchase of Ontario’s biggest craft brewery, Waterloo Brewing, the first craft brewery to start up in Ontario which is credited with pioneering the present-day craft brewing renaissance in Canada. Founded by Jim Brickman who left the brewery in 2008, Waterloo Brewing is located about 60 mile west of Toronto and like Boston Beer is a publicly held company.

“One of the priorities of our SAIL’27 strategy [the company’s five-year plan announced earlier this year] is to grow our business in attractive markets where we are small today, such as Canada, said Carlsberg Group CEO Cees ’t Hart. “The acquisition of Waterloo Brewing significantly improves our growth prospects in the Canadian market.”

“We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world,” Waterloo Brewing president and CEO George Croft added…

“Waterloo Brewing will be a great fit with Carlsberg’s strong, purpose-driven culture, and our Board of Directors is confident that joining Carlsberg is the best long-term solution for our employees, partners, customers, consumers and community.”

The transaction, which is  expected to be completed in February 2023, is an all-cash deal is valued at C$144 million (more than $105 million USD).

According to the Drinks Business, the transaction, which has been approved by the boards of both companies, is subject to approval by at least two-thirds of the votes cast by all security holders and by a “majority of the minority” of the shareholders in a meeting set to take place early next year. Holders of Waterloo Brewing common shares will receive CA$4 in cash for each common share held.”

In addition to adding to an award-winning roster of craft beers to its roster the Carlsberg Group intends to begin brewing its own beer brands at Waterloo’s Kitchener, Ontario brewery.

On the other side of the world, Carlsberg announced a US$25 million investment in its Malaysia brewery in June.

###

(All image credits: Waterloo Brewing)