Canadian brewer Waterloo Brewing is investing CAD13.4 million ($9.9 million) to expand the production and canning capacity at its factory in Kitchener, Canada.
This expansion project will increase the company’s brewing and blending capacity, and will include the installation of a new canning line.
According to estimates provided by the company, the expanded capacity will double the brewer’s canning capacity to 900 thousand hectolitres per year, and provide 1.4 million hectoliters of total packaging capacity per year once the project has been completed.
The company claims that this increase is necessary to meet the growing demand for its portfolio of alcoholic beverages, which includes beers, ciders and hard seltzers.
George Croft, president and CEO of Waterloo Brewing, said: “Our business has been experiencing significant growth over the past several years and we are investing to ensure that we can continue to satisfy the ongoing growth demand.
“The investment in capacity and capability is consistent with our very disciplined and strategic approach to capital and the return we expect.
“The landscape in beverage alcohol is changing so rapidly, and being able to develop, produce and sell an ever-increasing range of products is essential to success.”
Croft continued: “From our owned brands to our co-pack business, this new capacity equipment adds a critical component to our upcoming growth plans and set the foundation for the Company to achieve its $25 million EBITDA target over the next three years.
Russell Tabata, Waterloo Brewing’s chief operating officer, added: “This new can line will enhance our competitiveness considerably.
“The aluminium can is fast becoming the container of choice in beer and beverage alcohol and this new line will double our canning capacity to 900 thousand hectolitres as well as increase our overall packaging capacity to just over 1.4 million hectolitres.”
This latest investment follows the company’s decision to invest CAD9.6 million ($7.3 million) to expand its brewery in 2018.
© FoodBev Media Ltd 2020