The beer giant will immediately invest $10 million into the popular Toronto-based craft brewer for new state-of-the-art brewhouse and packaging capabilities
Labatt Breweries of Canada has purchased Mill Street Brewery, an award-winning Toronto-based craft brewer.
With this acquisition, Labatt says it will immediately invest $10 million in Mill Street’s Toronto brewery for new state-of-the-art brewhouse and packaging capabilities.
“Mill Street has continually distinguished itself with its energy and success in innovation, and powerful commitment to great-tasting quality beer,” says Labatt president Jan Craps. “Our partnership and investment will accelerate its growth in one of the most dynamic beer segments, while fully preserving Mill Street’s creative character and pioneering spirit.”
The purchase, for which the terms were not provided, was effective Oct. 9, 2015.
“With the success of Mill Street has come the challenge of serving a growing demand for our brands,” says Irvine Weitzman, Mill Street CEO, who will continue with Mill Street along with co-founder Steve Abrams and famed brewmaster Joel Manning. “Our partnership with Labatt is a natural evolution in our growth that will allow more Canadians to enjoy our beer and secure the legacy of our brands by allowing us to remain focused on the authentic characteristics that have made Mill Street what it is today.”
Founded in Toronto’s Distillery District in 2002, Mill Street is an award-winning craft brewery and the largest producer of certified organic beer in Canada. Core brands include Ontario’s first organic beer, Mill Street Original Organic Lager, along with 100th Meridian, Tankhouse Ale, and Cobblestone Stout.