Canada, ON: Waterloo Brewing invests C$13.4 mln in expansion and new can line installation

Waterloo Brewing Ltd., Ontario's largest Canadian-owned brewery, announced on June 2 a C$13.4 million investment in its facility to satisfy the upcoming volume demands of its rapidly growing business. The project will include expansion of its brewing and blending capacity as well as the installation of a new can line, Yahoo Finance reported.

"Our business has been experiencing significant growth over the past several years and we are investing to ensure that we can continue to satisfy the ongoing growth demand" stated George Croft, President and CEO, Waterloo Brewing. "The investment in capacity and capability is consistent with our very disciplined and strategic approach to capital and the return we expect."

"The landscape in beverage alcohol is changing so rapidly, and being able to develop, produce and sell an ever-increasing range of products is essential to success," continued Croft. "In our state-of-the art facility we're able to produce almost every style of beer, ciders, coolers, seltzers, and any other beverage the market might demand. We can do that both efficiently and with the highest quality standards."

"This new can line will enhance our competitiveness considerably," said Russell Tabata, Chief Operating Officer. "The aluminium can is fast becoming the container of choice in beer and beverage alcohol and this new line will double our canning capacity to 900 thousand hectolitres as well as increase our overall packaging capacity to just over 1.4 million hectolitres."

"Every growth engine in our Company is thriving and we are firing on all cylinders," added Croft. "From our owned brands to our co-pack business, this new capacity equipment adds a critical component to our upcoming growth plans and set the foundation for the Company to achieve its C$25 million EBITDA target over the next three years. We are looking forward to filling it up with Ontario's favourite beers and beverages."

04 June, 2020