Carlsberg buys Waterloo Brewing

Carlsberg Group acquires Waterloo Brewing. Holders of Waterloo Brewing shares will receive $4 in cash per share, which implies an aggregate equity value for Waterloo Brewing of approximately $144 million.

“We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world,” said George Croft, Waterloo Brewing’s president and CEO. “Waterloo Brewing will be a great fit with Carlsberg’s strong, purpose-driven culture, and our board of directors is confident joining Carlsberg is the best long-term solution for our employees, partners, customers, consumers and community.”

Carlsberg Group CEO Cees ‘t Hart said, “One of our priorities in our SAIL’27 strategy is to grow our business in attractive markets, where we are small today, like Canada. The acquisition of Waterloo Brewing significantly improves our growth prospects in the Canadian market.”

Anders Rud Jørgensen, managing director, Carlsberg Canada, added, “This exciting opportunity will scale our business in Canada. The brand portfolios are complementary. Local sourcing will secure long-term robustness of supply, 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.”