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CANADA: Sapporo secures control of Sleeman

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Japanese brewer Sapporo has secured a 95.8% stake in Canada's Sleeman Breweries after making an offer for the company's shares.

Sapporo struck a deal to buy Sleeman, Canada's third-largest brewer, in August in a takeover worth around C$300m (US$263.3m).

Sapporo saw its C$17.50 a share offer accepted by almost all Sleeman shareholders and said it would snap up the remaining shares by next month.

Sleeman was bought after seeing growing Canadian demand for discounted beers and imported brews hit profits. The company already brewed a number of brands, including those from Sapporo, under licence for the Canadian market.

Sapporo was one of four brewers said to be interested in buying Sleeman, which in May started looking at the future of the business. Canada's top two brewers, Molson and Labatt, as well as Dutch brewer Grolsch were also rumoured to be interested in buying Sleeman.


Sectors: Beer & cider

Companies: Sapporo Holdings, Grolsch

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