Canada, ON: Brick Brewing completes sale of Formosa Brewery
Brick Brewing Co. Limited, Ontario’s largest Canadian-owned brewery, confirmed on September 7 the completion of the Formosa sale. A definitive agreement for sale of Formosa was announced on September 1st, and Brick confirms that the sale transaction closed on Wednesday, September 6, 2017.
George Croft, President and Chief Executive Officer of Brick commented: ”We congratulate the new owners on the completion of this transaction and wish them great success in their new venture. In addition, we extend our thanks and appreciation to the Formosa employees for their valuable contributions over many years.”
Brick intends to utilize sale proceeds to fund capital projects, pay down debt, and for other general corporate purposes.
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