Carlsberg acquires Waterloo Brewing in Canada

By Rachel Arthur

- Last updated on GMT

Waterloo Brewing. Pic: Carlsberg
Waterloo Brewing. Pic: Carlsberg

Related tags Carlsberg Carlsberg group Beer Brewing

Carlsberg will acquire Waterloo Brewing for $144m CAD ($106m): helping it build up a ‘highly competitive company in the Canadian beer and RTD market’.

Danish brewer Carlsberg will gain its first local production facility in the country via Waterloo’s production facility in Kitchener, Ontario, which will produce Carlsberg brands (Somersby cider has already been produced by Waterloo Brewing for the local market since 2020, with the brand 'growing strongly' in the country in 2021).

Founded in 1984, Waterloo Brewing is Ontario's largest Canadian-owned brewery. It is behind Waterloo premium beers, the Laker brand and owns the Canadian rights to Seagram Coolers and LandShark and Margaritaville. It also has brewing, blending and packaging capabilities to offer contract manufacturing services in beer, coolers and ciders.  

Complementary portfolios

Carlsberg says the acquisition will strengthen its market position in Canada with local production and Waterloo Brewing’s brands, delivering ‘significant supply chain and revenue synergies’.

It says the acquisition will also help it deliver on its long-term strategy to grow its business in attractive markets where it has a small presence today, such as Canada.

Managing Director of Carlsberg Canada Anders Rud Jørgensen says: “This exciting opportunity will scale our business in Canada. The brand portfolios are complementary. Local sourcing will secure long-term robustness of supply, and increase commercial flexibility and speed to market for innovations, step-changing the way we operate. Waterloo Brewing’s excellent portfolio of long-standing co-packing relationships will benefit from these combined operations.”

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.”

The transaction is expected to close early in the first half of 2023, subject to approval by Waterloo Brewing’s security holders and the satisfaction or waiver of other customary closing conditions.

Related topics Manufacturers Beer & cider Carlsberg

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