CANADA: Andrew Peller to sell brewery to Creemore Springs
As a result, Granville Island and Ontario-based Creemore Springs will join forces to continue brewing their beers, the companies announced yesterday (19 October).
The two Canadian craft brewers believe they will be able to offer their brands to more markets in Canada, while continuing to maintain their positions in British Columbia and Ontario.
Financial details were not disclosed but proceeds from the sale will be used by Andrew Peller to reduce bank indebtedness and for general corporate purposes.
The transaction is expected to be completed by early 2010.
"Creemore's intention is for Granville Island Brewing to continue operating as a distinct organisation benefiting from its own people, knowledge, recipes and marketing methods, in much the same way that Creemore operates in Ontario," said Jason Moore, president and CEO, Creemore Springs.
Molson Coors is to bring its Northern Ireland beer sales and marketing operations in-house, thereby exiting its deal with C&C Group....
- Bacardi Seeks Own History at Bombay Sapphire Home
- NPD: The Craft Cocktail Revolution
- No Home Comfort for TWE as Bids Collapse
- Private-equity bids "over" - TWE head
- Interview - WoSA chief executive
- Suntory Holdings to split beer, spirits division
- Diageo's Smirnoff Sours
- Anheuser-Busch InBev appoints new AmBev CEO
- Carlsberg suspends production at Russian brewery
- Treasury Wine Estates pulls plug on takeover talks