Carlsberg Group is strengthening its position in Canada through the acquisition of Waterloo Brewing.
The Danish beer giant has entered into a definitive agreement to buy the Canadian craft brewer for a total equity value of CAD144m (£86m).
The deal includes local production facilities and Waterloo Brewing’s brands, and is expected to deliver “significant supply chain and revenue synergies”.
Carlsberg stated that its beer and cider portfolio complements Waterloo Brewing’s range of local beers and ready-to-drink (RTD) beverages. In addition, Waterloo Brewing’s production facility in Kitchener, Ontario, will produce some of the Carlsberg’s brands, including Somersby cider, which has been produced at Waterloo Brewing since 2020.
Carlsberg Group CEO Cees ’t Hart commented: “One of the priorities of our SAIL’27 strategy is to grow our business in attractive markets where we are small today, such as Canada. The acquisition of Waterloo Brewing significantly improves our growth prospects in the Canadian market.”
Waterloo Brewing President and CEO George Croft added: “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 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.”
