Canada & China: Russell Breweries Inc. to manufacture and sell its beers in China

Surrey-based Russell Breweries Inc. has signed a letter of intent with FVI Capital Inc. to have its craft beers manufactured, exported and sold in China, The Vancouver Sun reported on July, 14.

"We see this as a potentially strong deal for us," said company CEO Brian Harris. "There will be a test situation to start off and then it will be expanded if it works out. It will be a new brewery in China making craft beer with our recipes and brands."

They will also be shipping some of their product directly to China for sale, he added.

Harris said three locations are under consideration for a new Chinese brewery and that it would likely include a restaurant. "It could be up and running in six months."

Harris said the deal, which he expects to be finalized within 30 days, could produce over C $1 mln in revenue for Russell through royalties through a new company set up by the capital equity group FVI to initially produce about 50,000 hectolitres of beer.

18 July, 2012