top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Domino September - Website Banner - GS1 - 300x250.gif
Carlsberg to acquire Waterloo Brewing in CAD 144m transaction
Gwen Jones

Gwen Jones

15 December 2022

Carlsberg to acquire Waterloo Brewing in CAD 144m transaction

Carlsberg has agreed to acquire Canada's Waterloo Brewing for a total equity value of around CAD 144 million (approx. $106 million) in cash. Founded in 1984, Waterloo Brewing claims to be Ontario's largest Canadian-owned brewery. The company produces craft beers and ready-to-drink beverages under its own brands, while also offering contract manufacturing services for beer, coolers and ciders. Under the terms of the agreement, Waterloo shareholders will receive CAD 4.00 (approx. $2.95) in cash for each share held. This implies an aggregate equity value for the company of approximately CAD 144 million and an enterprise value of CAD 217 million (approx. $159.8 million). The deal is expected to strengthen Carlsberg’s position in the Canadian market with local production capabilities, and to deliver "significant supply chain and revenue synergies". George Croft, Waterloo Brewing president and CEO, said: "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". Carlsberg CEO Cees 't Hart commented: "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." The transaction is expected to close early in the first half of next year, subject to approval by Waterloo Brewing’s security holders and customary closing conditions.

Related posts
IFF introduces Diazyme Nolo to enhance no- and low-alcohol beer production
Alcohol

IFF introduces Diazyme Nolo to enhance no- and low-alcohol beer production

Embracing mindful drinking: The rise of the full-flavour, guilt-free beer experience
Partner content

Embracing mindful drinking: The rise of the full-flavour, guilt-free beer experience

Foamy flavours: Beer cocktails hop into the happy hour spotlight
Beverage

Foamy flavours: Beer cocktails hop into the happy hour spotlight

Russian authorities block AB InBev sale of JV stake
Beverage

Russian authorities block AB InBev sale of JV stake

Beavertown introduces watermelon-flavoured IPA
New products

Beavertown introduces watermelon-flavoured IPA

Carlsberg and Brooklyn Brewery create lager made with drought-resistant grain
Alcohol

Carlsberg and Brooklyn Brewery create lager made with drought-resistant grain

bottom of page