Sleeman and Unibroue unite
Canada’s number three brewer Sleeman will pay CAD36.5 million for the Quebec-based microbrewer Unibroue. The deal not only gives Sleeman much needed brewing capacity and a distribution channel into the US. It will also add about CAD5 million to Sleeman’s operating profits next year. Sleeman has announced that it intends to nearly double Unibroue’s production to more than 120,000 hl beer next year, and eventually triple it. Unibroue’s three major owners - founder André Dion, rock star Robert Charlebois and businessman Serge Racine - have agreed to sell their combined 71.5 percent stake at CAD5.25 per share which represents a premium of 34 percent over the average Unibroue trading price. Last year Unibroue had sales of CAD25.6 million and earnings of CAD1..
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