Ontario's first craft brewery bought by international beer giant for multi-millions
The province's OG craft brewery has reached new heights with exciting news of its acquisition by a gigantic beer giant.
Little ole Waterloo Brewing has officially been acquired by Carlsberg Canada (a subsidiary of The Carlsberg Group) as of March, 7.
The gigantic business deal is estimated to be in tens of millions of dollars, with CTV News putting it at a whopping $217 million in cash.
Known for its creative Radler and IPA flavours (guava lime, tart cherry and original grapefruit), classic lagers, and cute boar icon, Waterloo was first established in 1984 as Brick Brewing.
It's largely credited for introducing the province to craft brewing and paved the way for the extensive Ontario craft drinks crowding the market (and LCBO shelves).
It's the largest craft brewery in the country to boot and also owns the Laker brand and Canadian rights to Seagram Coolers, Margaritaville and LandShark.
Once a formally traded company, Waterloo will be de-listed from the Toronto Stock Exchange tomorrow.
Speaking to CTV, both Waterloo and Carlsberg execs say there will be no changes to the drinks or products - meaning you can still visit their Kitchener taproom for some suds.
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