CANADA: Labatt gets green light on Lakeport
Labatt Brewing Co. has got the go-ahead to complete its acquisition of Canadian beer maker Lakeport Brewing.
Canada's Competition Tribunal turned down a request for the country's Competition Commissioner for more time to review the acquisition of Lakeport, which was first announced in February.
Labatt said it would now look to snap up the outstanding unit's in Lakeport Brewing Income Fund, which oversees the discount brewer.
In February, Labatt and Lakeport agreed a deal worth C$201.4m (US$173.7m).
Based in Ontario, Lakeport's beer brands include Lakeport Honey Lager and Lakeport Pilsener.
The brewer has been successful in the province in recent years through its strategy of price discounting. In May, last year, Lakeport announced that it would sell its flagship brands at 1992 beer prices throughout the summer.
Sectors: Beer & cider
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