CANADA: Sleeman mulls several proposals - report

Sleeman Breweries has reportedly received a number of "very interesting proposals" from inside and outside Canada since it announced it was reviewing the future of the business, its CEO said today (31 May).

The Canadian brewer's chairman and CEO John Sleeman told the Toronto Star of the level of interest but declined to go into details. However, he said he hoped that if Sleeman is bought, its buyer would continue to focus on the company's premium brands.

"I wouldn't want to see the Sleeman name disappear," he told the newspaper, adding that Sleeman's suitors were serious about the company and were not "just kicking the tires". He added that it could take up to three months before Sleeman had anything to announce.

In the meantime, Mr. Sleeman told shareholders in Toronto yesterday that it was "business as usual" and the company would focus on cutting costs and looking to restore growth to the company.

Earlier this month, Mr. Sleeman accused InBev CEO Carlos Brito of ambushing the brewer's review of its options after revealing that the Ontario-based brewer was up for sale.

He told just-drinks in an exclusive interview that he was "not driving this process. This is something that caught us by surprise," he said, adding: "I'm not marching around with a 'for sale' sign on my back, but now Carlos has brought the world's attention to this, we have to deal with people thinking this company is for sale."

Sleeman officials could not be reached for comment when contacted by just-drinks today.