Your access to Mill Street just got a whole lot easier.
That’s because Canadian beer giant Labatt Breweries is set to buy the privately held Toronto-based Mill Street Brewery for an undisclosed amount.
According to the Toronto Star, the acquisition of the brand will help expand the craft label into new markets, including Quebec (because beer and poutine is a pretty amazing combination).
“We think that this partnership will really help expand awareness of craft across the country,” said Charlie Angelakos, vice president of corporate affairs at Labatt.
While there’s no word what Labatt paid to swallow up Mill Street, they have announced that they’ll be investing $10 million into the company’s brewery operations for some much-needed new tanks and equipment to keep up with the current demand.
“Many craft brewers in Ontario are experiencing this huge surge just to keep up with demand,” said Mill Street co-founder Steve Abrams.
Canadians have jumped on the craft beer bandwagon in a major way in recent – not that we have to tell you that. According to recent findings from data research company NPD Group, the consumption of beer declined by six per cent in 2014, but craft beer servings were up seven per cent.
Until now, Labatt has not been a major player in the craft beer game. It’s safe to say that’s about to change.