The Carlsberg Group is pleased to announce the successful acquisition of all the issued and outstanding common shares of Waterloo Brewing. The sale was approved by over 99% of Waterloo Brewing shareholders in a vote that took place on February 23, and all legal steps have now been finalized. Following the approval by Waterloo Brewing shareholders, the transaction was formally completed on Tuesday, 7th March 2023.
Cees ’t Hart, chief executive officer, Carlsberg Group, says about the acquisition, “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.”
Carlsberg’s international beer and cider portfolio complements Waterloo Brewing’s portfolio of local beers and ready-to-drink (RTD) beverages, creating a highly competitive company in the Canadian beer and RTD market. In addition, Waterloo Brewing’s production facility in Kitchener, Ontario, will produce some of the Carlsberg Group’s brands, including Somersby cider, which has been produced at Waterloo Brewing since 2020.
George Croft, president and chief executive officer, Waterloo Brewing, says, “We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world.”