Carlsberg buying Waterloo Brewing
Posted Dec 15, 2022 10:23:00 AM.
Danish brewer Carlsberg is buying Ontario's first craft beer maker.
Waterloo Brewing made the announcement Wednesday evening after its board voted unanimously to accept an all cash offer of $144 million.
Carlsberg will pick up shares for $4 a piece.
“We've enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world,” George Croft, Waterloo Brewing's President and CEO, said in a statement.
“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.” Croft added.
The CEO of the Carlsberg Group said the acquisition of Waterloo Brewing will significantly improve the companies growth prospects in the Canadian market.
The deal is expected to close in the first half of 2023.
— with files from The Canadian Press
