Canada, AB: Big Rock Brewery agrees to sell its Etobicoke brewery
Big Rock Brewery Inc. announced on May 3 the signing of a definitive agreement for the sale of its Etobicoke brewery for total cash consideration of approximately C$2.1 million, net of transaction costs (the "Transaction").
The Transaction includes all brewing and packaging equipment, excluding the bottling line which has been transferred for use at the Corporation's Calgary facility. The purchaser has also agreed to assume the Etobicoke brewery building lease.
The Transaction is expected to close on or before June 14, 2021.
Despite the Transaction, management has no concerns in its ability to meet market demand in Ontario and will continue to utilize the brewing assets at its Toronto Liberty Commons operations.