Labatt Breweries of Canada is acquiring a range of RTD, cider and spirit brands in a $350 million deal with the Mark Anthony Group.
According to a report in Food In Canada, the deal will give Labatt ownership of brands such as Mike’s Hard Lemonade, Palm Bay and Okanagan Cider along with Turning Point Brewery in British Columbia, where the Stanley Park range is made.
Labatt president Jan Craps commented: “We’re excited about the agreement to acquire a highly creative portfolio of brands in the fast-growing ready-to-drink and cider segments. Equally important, we will benefit from the experience and leadership of the people behind the success of such trailblazing brands, who will continue to manage the acquired portfolio and operate the Turning Point Brewery on an autonomous basis”.
Anthony von Mandl, founder, chairman and CEO of the Mark Anthony Group, said that he was “extremely proud of the company’s legacy”.
“We’ve built a legacy that speaks for itself, and that legacy will continue to grow with the widening distribution and increasing channels for brands that so powerfully resonate with consumers”, he added.
Source: Food In Canada