Ontario-based Waterloo Brewing has announced that it will invest CAD9.6 million ($7.3 million) to further expand its brewery in Kitchener-Waterloo, Ontario.
The investment will expand the warehouse and production facilities at the site by 65,600 square-feet and will pay for several equipment upgrades, which will significantly improve production capabilities, capacity, and operational efficiency at the site.
Waterloo Brewing owns several beer brands such as Waterloo, Laker and Landshark, and the company estimates that the expansion will deliver over CAD1.1 million ($834,441) annually through revenue growth and operational cost savings.
This investment follows the CAD 3.5 million ($2.8m) investment made by the company earlier this year to upgrade the can production capacity of the brewery, following the closure of its Formosa brewery and the subsequent consolidation of operations at the Kitchener-Waterloo site.
George Croft, president and CEO of Waterloo Brewing said: “This investment in our brewery is such an important event for all of us at Waterloo Brewing.
“We’ve undergone an enormous amount of change and growth over the last few years, all motivated by a commitment to be the best regional brewer in Ontario.
“The expansion will include a small batch brewhouse, a new taproom where our friends and neighbours can join us for a pint of finely crafted beer, a larger retail store, an expansion of our warehouse and production facility, and some strategic investment in production equipment to improve capabilities, capacity and operations efficiencies.
“The craft beer market is evolving and competing more directly with big beer brands, so these investments we’re making for our future will help further establish us as the best regional brewer in Ontario, and a favourite of beer drinkers across the province.”
Russell Tabata, COO at Waterloo Brewing added: “This investment in our operations will deliver significant returns for the business while at the same time improving both the capabilities and capacities of our production facility.
“Additionally, the installation of the small batch brewhouse will allow us to leverage the years of brewing experience and expertise to create a unique consumer experience.”
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