Canada, AB: Big Rock Brewery completes sale of its Etobicoke assets
Big Rock Brewery Inc. announced on June 18 the closing of the sale of its Etobicoke assets and assignment of its related lease obligations to a private counterparty for total cash consideration of C$2.1 million, net of transaction costs.
The cash proceeds will be used to make full repayment of the corporation's equipment lease liabilities associated with the Etobicoke assets, in addition to increasing the Big Rocks 2021 capital budget related to its information technology and digital transformation initiatives.
The company will continue to meet market demand in Ontario through utilization of its brewing assets at its Toronto Liberty Commons location.
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