Labatt Breweries of Canada LP has bought Mill Street Brewery, a craft brewer headquartered in Toronto. The transaction’s value was not disclosed. Established as an organic brewpub in 2002, Mill Street today has a portfolio of 70 unique beers. Labatt said it plans to support the company’s continued growth with an investment of $10 million in its Toronto brewery, which includes a state-of-the-art brewhouse and packaging capabilities. Mill Street has been backed by HMW Capital, a Canadian private equity and investment banking firm. HMW’s Herb Willer was part of the company’s founder group and acted as its chairman.
Labatt and Mill Street Brewery announce purchase agreement
Invests $10 million in new state-of-the-art brewhouse and packaging capabilities
TORONTO, Oct. 9, 2015 /CNW/ – Labatt Breweries of Canada today announced that it has purchased Mill Street Brewery, an award-winning craft brewer based in Toronto. The deal will allow Mill Street to deepen its traction with consumers in the fast growing craft beer segment, where it has an extraordinary variety of unique beers, as well as brew pubs in both Toronto and Ottawa. To help achieve this, Labatt will immediately invest $10 million in Mill Street’s Toronto brewery, which includes a state-of-the-art brewhouse and packaging capabilities.
“Mill Street has continually distinguished itself with its energy and success in innovation, and powerful commitment to great-tasting quality beer,” said Labatt president Jan Craps. “Our partnership and investment will accelerate its growth in one of the most dynamic beer segments, while fully preserving Mill Street’s creative character and pioneering spirit.”
“With the success of Mill Street has come the challenge of serving a growing demand for our brands,” said Irvine Weitzman, Mill Street CEO, who will continue with Mill Street along with co-founder Steve Abrams and famed brewmaster Joel Manning. “Our partnership with Labatt is a natural evolution in our growth that will allow more Canadians to enjoy our beer and secure the legacy of our brands by allowing us to remain focused on the authentic characteristics that have made Mill Street what it is today.”
Founded in Toronto’s Distillery District in 2002, Mill Street is an award-winning craft brewery and the largest producer of certified organic beer in Canada. It has won numerous beer quality awards including the Canadian Brewery of the Year Award in three consecutive years. Core brands include Ontario’s first organic beer, Mill Street Original Organic Lager, along with 100th Meridian, Tankhouse Ale, and Cobblestone Stout. The brewer is also renowned for permanent specialties including a strong golden ale Betelgeuse, an Irish-style red ale Bob’s Bearded Red and nitrogen-charged Vanilla Porter, as well as for several small-batch specialty beers.
“Throughout our history, our dedication to our craft and our passion for pushing the envelope have allowed Mill Street to make waves in Canada’s craft beer segment,” said Abrams. “We are excited about the prospect of working with Labatt to build even further on our successes and sharing our brands with more beer lovers across Canada.”
Mill Street brands will continue to be brewed under the expertise of brewmaster Joel Manning.
“This investment in a state-of-the-art brewhouse that Mill Street will run on a stand-alone basis positions us to reach the very top of our craft,” added Manning. “We couldn’t be more pleased by this fantastic opportunity to further entrench our reputation for innovation and quality, and bring more great brands to more consumers.”
The purchase, for which the terms were not provided, is effective today.
About Mill Street Brewery
Mill Street Brewery is a leading craft brewer based in Toronto with a portfolio of 70 unique and innovative beers. Founded as an organic brewpub in 2002, it is today the largest brewer of certified organic beer in Canada and produces some of the country’s most environmentally responsible beers. In addition to the flagship Mill Street Original Organic Lager and creative small batch specialty beers, brands include perennial favorites such as 100th Meridian, Tankhouse Ale, Cobblestone Stout, Betelgeuse, Bob’s Bearded Red and Vanilla Porter. Mill Street also operates popular brewpubs in Ottawa in Toronto.
About Labatt Breweries of Canada
Labatt Breweries is one of Canada’s founding businesses and oldest brewers. Established by John Kinder Labatt in London Ontario in 1847, Labatt today has more than 3,000 employees and six breweries from Newfoundland to British Columbia and a portfolio of more than 60 quality beers. The company’s regional brands and iconic Canadian favourites include Alexander Keith’s, Kokanee, and Labatt Blue (Bleue in Quebec). As an integral part of Anheuser-Busch InBev, the world’s leading brewer, Labatt also sells world-renowned beers such as Stella Artois, Budweiser, Bud Light, Corona and Goose Island to consumers across Canada.
SOURCE Labatt Breweries of Canada
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