Categorized | News

Creemore Springs Brewery to buy Granville Island Brewing Company

manreading

Andrew Peller has announced it is selling Granville Island Brewing Company and Mainland Beverage Distribution to Creemore Springs Brewery, a standalone craft brewery owned by Molson Coors Canada.

Peller said the intended sale, expected to be completed in early 2010, will allow the company to more effectively focus on its key strengths and long-term strategy to build and market its leading portfolio wine across Canada.

Proceeds from the sale will be used by Andrew Peller to reduce bank debt and for general corporate purposes.

John Peller, president and chief executive officer, said: “We are pleased to be positioning Granville Island’s strong brand, quality products and talented people with one of the country’s leading craft brewers.”

He said the company is looking forward to watching Creemore Springs “build upon our commitment to brewing the finest craft beer in the country”.

Creemore Springs currently produces a premium lager using pure Canadian spring water, malted barley, select hops and yeast.

Tags | , , ,

Thursday, August 17, 1:54 am

Search by Tag