Molson Coors is leaving the Montreal site where it opened a brewery in 1786 and will build a new operation on the south shore city of Longueuil.
READ MORE: Molson Coors plans to build new $500 million Montreal brewery
The Montreal and Denver-based brewer (TSX:TPX.B) announced its long-anticipated decision Tuesday to employees.
The company confirmed in July that it will spend about $500 million to build a new facility but didn’t identify the location.
“The decision was made that it’s better for us to build a new brewery in the Greater Montreal than renovate the actual one,” François Lefebvre, Molson Coors spokesperson, said.
Mayor Valérie Plante expressed her regret Tuesday over Molson’s decision to leave Montreal.
“I am confident that business leaders, in making future decisions, will reflect not only on the importance of Molson in Montreal’s history, but also Montreal’s part in making Molson what it is today,” she said.
READ MORE: Former Habs president and owner John David Molson passes away at age 88
Molson Coors plans to maintain a microbrewery and retail location at the historic site along the Saint-Lawrence River near Old Montreal.
The rest will be sold for redevelopment.
“It’s a big opportunity for example to have a better access to the water,” Plante said. “Having more housing options, maybe to develop a business area.”
Molson has about 1,000 employees at the brewery and at a distribution centre.
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