21 July, 2022

Denmark & Canada: Danish brewer Royal Unibrew to acquire Canadian craft brewer Amsterdam Brewery

Danish brewer and beverage maker Royal Unibrew will acquire Canadian craft brewer Amsterdam Brewery in a deal valued at around 250 million Danish crowns ($34 million), Royal Unibrew said in a statement on July 15.

"The acquisition we are doing today is very important for the future growth of Royal Unibrew in the Americas region," Chief Executive Lars Jensen said in a statement.

"We are adding capacity in Canada, which is also close to our U.S. business and over time we expect to serve most of Canada and partly United States from Amsterdam Brewery," Jensen added.

The vast majority of Royal Unibrew's revenue is generated in Europe. In 2021, around 11% of the company's net revenue came from its international segment, which includes the Americas, according to its annual report.

The acquisition, which is expected to close in the third quarter of this year, placed an enterprise value on Amsterdam Brewery of approximately 250 million Danish crowns, which will be paid on a debt free basis, Royal Unibrew said.

It expects the deal to be earnings-per-share accretive within the first year of ownership.

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