The Carlsberg Group has entered into a definitive agreement with Waterloo Brewing to acquire all the issued and outstanding common shares of the company for approximately $105 million in aggregate (including options). The acquisition is expected to strengthen the Carlsberg Group’s market position in Canada with local production and Waterloo Brewing’s brands, in addition to delivering significant supply chain and revenue synergies.
Expected to close early in the first half of next year, the transaction is subject to approval by Waterloo Brewing’s security holders and the satisfaction or waiver of other customary closing conditions. The transaction has been approved by the boards of directors of both companies, and Waterloo Brewing’s board of directors has recommended that Waterloo Brewing shareholders vote in favor of the transaction.
