Late Tuesday, Kitchener’s Waterloo Brewing has announced that it is being bought by Danish beer giant Carlsberg Group.
“We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world,” stated Waterloo Brewing CEO George Croft.
“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 sale, which will need regulatory approval from the federal government and which is subject to approval by shareholders, is expected to close in the first half of next year.
Waterloo Brewing, which is Ontario’s largest Canadian-owner brewery, began under the Brick Brewing moniker in 1994.
A spokesperson for Carlsberg says that the company is looking to increase its presence in Canada with the purchase.
“The primary reason for the acquisition is to accelerate Carlsberg’s growth in the Canadian market and to benefit from localized production of CB brands,” the spokesperson said in an email.
“Carlsberg intends to grow the combined business across Canada.”
They said the Danish firm intends to brew some of its brands locally as its Somersby cider has been produced at the brewery for a couple of years now.