In a statement released yesterday, Sleeman Brewery revealed that it has hired BMO Nesbitt Burns Inc. as a financial adviser and was exploring “strategic options”, including “offers to acquire shares or assets of Sleeman, a recapitalization review or business combination.”
This followed on reports earlier in the day that InBev – the multinational owner of Labatt, Stella Artois, and many other beer brands – was eyeing Sleeman as a takeover target. Later stories have mentioned Molson Coors and SAB Miller as possible suitors as well.
More coverage of this story can be found at The Toronto Star and The Globe & Mail.
There are also changes in store for the Upper Canada brands owned by Sleeman. The UC Pale Ale launched last year is being discontinued due to poor sales, and the UC Wheat is being retired due to its cannibalizing of market share from other UC brands during the warmer months. The core UC brands will now by the Lager, Dark Ale and Red.
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