E-Malt.com News article: 2853

Canada, Guelph: Sleeman Breweries Ltd. announced on June 22 that it succeeds in take-over bid for Unibroue, the largest micro-brewery in Québec. The company said that 4,143,254 multiple voting shares ("MVS") of Unibroue Inc. ("Unibroue") and 1,587,140 subordinate voting shares ("SVS") of Unibroue, representing 100% of the outstanding MVS and 91.2% of the outstanding SVS, have been deposited to the $5.25 cash recommended takeover offers (the "Offer") made by Sleeman for the MVS and SVS. With this level of deposit, all conditions to the Offer are now satisfied. Sleeman will instruct the depositary, Computershare Trust Company of Canada, to take up and pay for all the MVS and SVS validly deposited pursuant to the Offer. Payment to Unibroue shareholders who deposited their MVS and/or SVS under the Offer will be made as soon as possible and in any event within 10 days.

Sleeman now intends to exercise its statutory right under the Canada Business Corporations Act to acquire the remaining SVS not deposited under the Offer. Following acquisition of all of the remaining SVS, Sleeman intends to delist the SVS from the Toronto Stock Exchange and cause Unibroue to cease to be a reporting issuer under the securities laws of each applicable province.

Sleeman Breweries Ltd. is the leading brewer and distributor of premium beer in Canada and the third largest brewing company nation-wide. The company has supplemented its core Sleeman brands, which are available in every province, with a family of exceptional regional brands. These include Okanagan Spring and Shaftebury in British Columbia and Alberta, Upper Canada in Ontario, Seigneuriale in Québec and MacLays in Atlantic Canada. Sleeman entered the rapidly growing value price category in 1999 by acquiring the Stroh portfolio of brands in Canada. The company markets and/or distributes world-class imported products such as Guinness, Grolsch, Samuel Adams, Scottish & Newcastle (including Bulmers Strongbow English Cider), Sapporo and Pilsner Urquell, and provides contract production for Japan’s Sapporo Breweries’ products. Sleeman is also available in selected U.S. and British markets.

Unibroue is the largest micro-brewery in Québec and among the largest 20 micro-breweries in North America. Since its creation in 1991, Unibroue has gradually established itself as the leader in the development and marketing of specialty beers in Québec. Unibroue brews 12 brands of bottle refermented beers: Blanche de Chambly, Maudite, Fin du Monde, Raftman, Eau Bénite, 1837, Trois Pistoles, Don de Dieu, Éphémère and exclusive brands: La St-Hubert for the St-Hubert restaurants and La Fringante et La Terrible for the Société des alcools du Québec. Also, Unibroue produces three commercial beers, the U, the U2 and La Bolduc. With its head office in Chambly, Québec along with four warehouses located across the province, Unibroue employs more than 135 employees spread across the areas of sales and marketing, administration, production and distribution.


30 June, 2004