Denmark-based brewing and beverage firm Royal Unibrew has announced that it came into an agreement to acquire the entirety of the Toronto-based company Amsterdam Brewery Co. Ltd., a Canadian craft brewing company with a normalised revenue of around CAD$34 million ($26.4 million).
According to sources, the acquisition of the company will bring Royal Unibrew more premium offerings into the portfolio within Canada, Ontario in particular, as it is the largest region for Amsterdam Brewery’s business as well as two Brewpub restaurants owned and run by Amsterdam Brewery.
CEO of Royal Unibrew, Lars Jensen, said: “The acquisition we are doing today is very important for the future growth of Royal Unibrew in the Americas region. We are adding capacity in Canada, which is also close to our US business and over time we expect to serve most of Canada and partly US from Amsterdam Brewery Co. Ltd., which will reduce transportation costs and our CO2 footprint”.
The closure of the acquisition is expected to be done by Q3 2022, based on a debt free enterprise value of CAD$44 million ($34.1 million), and is subject only to the customary preparations.