The Carlsberg Group is pleased to announce the successful acquisition of all the issued and outstanding common shares of Waterloo Brewing. The sale was approved by over 99% of Waterloo Brewing shareholders in a vote that took place on February 23 and all legal steps have now been finalised. Following the approval by Waterloo Brewing shareholders, the transaction was formally completed on Tuesday, 7th March.

Carlsberg Group CEO Cees ’t Hart says about the acquisition:

“One of the priorities of our SAIL’27 strategy is to grow our business in attractive markets where we are small today, such as Canada. The acquisition of Waterloo Brewing significantly improves our growth prospects in the Canadian market.”

Carlsberg’s international beer and cider portfolio complements Waterloo Brewing’s portfolio of local beers and ready-to-drink (RTD) beverages, creating a highly competitive company in the Canadian beer and RTD market. In addition, Waterloo Brewing’s production facility in Kitchener, Ontario, will produce some of the Carlsberg Group’s brands, including Somersby cider, which has been produced at Waterloo Brewing since 2020.

Waterloo Brewing President and CEO George Croft says:

“We’ve enjoyed a close relationship with Carlsberg and are excited about becoming part of one of the largest brewing companies in the world.”

About Waterloo Brewing

Waterloo Brewing is Ontario's largest Canadian-owned brewery. The Company is a regional brewer of award-winning premium and value beers and is officially certified under the Global Food Safety Standard, one of the highest and most internationally recognized standards for safe food production.

Founded in 1984, Waterloo Brewing Ltd. was the first craft brewery to start up in Ontario and is credited with pioneering the present-day craft brewing renaissance in Canada. Waterloo Brewing has complemented its Waterloo premium beers with the popular Laker brand. In 2011, Waterloo Brewing purchased the Canadian rights to Seagram Coolers, and in 2015 secured the exclusive Canadian rights to both LandShark® and Margaritaville®.

In addition, Waterloo Brewing utilizes its leading-edge brewing, blending, and packaging capabilities to provide an extensive array of contract manufacturing services in beer, coolers and ciders.

About the Carlsberg Group

Established in 1847 by brewer J.C. Jacobsen, the Carlsberg Group is one of the leading brewery groups in the world, with products sold in 150 markets. The Group’s beer portfolio spans both local and international premium brands, including Carlsberg, Tuborg, 1664 Blanc and Grimbergen, strong local power brands and alcohol-free brews.

In addition, its portfolio of other beverages includes both alcoholic and non-alcoholic beverages such as ciders, including Somersby, soft drinks and energy drinks.

The Group’s purpose is brewing for a better today and tomorrow. Doing business responsibly and sustainably supports that purpose – and drives the efforts to deliver value for shareholders and society. Carlsberg is listed on Nasdaq Copenhagen.