Beer giant, Carlsberg, is snapping up independent brewer Waterloo Brewing in a $217 million cash deal.
“We’ve entered a definitive agreement with Carlsberg and we couldn’t be happier for them to acquire the company,” the president and CEO of Waterloo Brewing Company George Croft told CTV News.
The Carlsberg Group was established in 1847 and has products sold in 150 markets.
Croft said they are excited about becoming part of one of the largest brewing companies in the world.
“From our perspective, we think this is an absolutely perfect strategic fit, both in terms of our brands, our brewery and most importantly our people,” Croft said.
Waterloo Brewing started locally in 1984 as Brick Brewing. Croft said they are the province’s first craft brewer and are now the largest Canadian-owned brewer. Despite the company’s success, staff said it was time.
“We have had a lot of success with our brands and we’ve had a lot of success with our co-manufacturing business, but this really is an opportunity to change the landscape within the Canadian beer business,” Croft said.
When the deal closes, Carlsberg will take ownership of the Waterloo Brewing brands, including Laker and the Canadian brewing rights for Landshark.
It will also allow Carlsberg to brew its beers at the Kitchener facility.
Both companies confirmed the sale will not mean any changes to the products.
“They’re good brewers and so are we so we do not foresee any big changes here actually,” said Anders Rud Jørgensen, the managing director of Carlsberg Canada.
When it come to the impact on the local craft industry, an owner of one of the smallest craft breweries in the region said he is not worried.
“I don’t think much will change. I think [customers] will still be able to walk in the tap room and enjoy what they have to offer,” said Graeme Kobayashi, owner at Counter Point Brewing.
Waterloo Brewing is a publically traded company but will be delisted from the Toronto Stock Exchange after the deal closes.
