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Canada: Brick Brewing signs agreement to brew Tiger Malt non alcoholic beer for Banks Brewing
Brick Brewing Co. Limited announced that it has added to its growing contract brewing business with a multi-year agreement to brew Tiger Malt non-alcoholic beer for the Canadian market for Banks Brewing (Barbados) Limited, News Wire reported May 16.
"Banks is one of the Caribbean's most prestigious brewers and this new agreement represents another in Brick's growing roster of international strategic partners," commented Doug Berchtold, Brick Brewing's President and CEO. "Adding to our contract brewing, co-packing and agency businesses complements Brick's core brewing operations. It helps spread fixed overhead costs across more volume, delivering operating efficiencies to benefit production cost for all brands."
"Tiger Malt sales are expanding rapidly in Canada, with its growing East and West Indian populations, and we were seeking a high quality craft brewer in Canada who could achieve the standards of brewing excellence we demand for our popular non-alcoholic beverage," said Chris St. John, General Manger of Banks Brewing. "Brick fit the bill perfectly and we know that Tiger Malt will be in good hands at Brick."
Tiger Malt is sold in Loblaws and associated stores, as well as national grocery chains and numerous neighbourhood retailers in the East and West Indian communities, enjoying an estimated 70% market share for non-alcoholic malt beverages to these communities in Canada. It features a "malty and hoppy taste with sweet balance" and is also purchased for its perceived health benefits as it contains a range of B vitamins, along with Biotin, Folic Acid and Niacin, many of which are also found in regular beers. For the past 10 years, product distribution has been handled for Canada by Warehouse Trading Inc., which is based in Toronto.
About Brick Brewing Co. Limited
Brick Brewing Co. Limited is Ontario's largest Canadian owned and Canadian based publicly held brewery. The Company is a regional brewer of award-winning premium quality beers. The Company, founded by Jim Brickman in 1984, was the first craft brewery to start up in Ontario, and is credited with pioneering the present day craft brewing renaissance in Canada. Brick has complemented its J. R. Brickman Founder's Series and Waterloo Dark premium craft beers with other popular brands such as Laker, Red Cap and Formosa Springs Draft. Brick trades on the TSX under the symbol BRB.
About Banks (Barbados) Brewery Limited
Banks Holdings Limited (BHL) is one of Barbados' most successful public companies, and the island's largest beverage conglomerate with operations also in Guyana, Belize and the Bahamas. Its six subsidiaries comprise two beverage manufacturers, a dairy, a bottle-blowing concern, a distribution firm and a plastics recycling plant. Banks (Barbados) Breweries Limited is BHL's flagship company, accounting for at least 25% of the Group's annual revenue. Banks Beer, the lager which Barbadians identify with as their own, is the country's most popular beer and an international award winner since 1971. Tiger Malt was launched in 1963 and has won numerous awards, including Monde Selection of Quality awards in Belgium.
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