WATERLOO BREWING acquired by CARLSBERG GROUP

Carlsberg has completed the acquisition of 100% of Waterloo Brewing's shares, aiming to bolster its presence in the Canadian market, where the group had previously maintained a relatively limited footprint. The integration of Waterloo Brewing enables Carlsberg to tap into a complementary portfolio of local beers, ciders, and ready-to-drink beverages, while leveraging strong regional brand recognition and an existing industrial infrastructure. The transaction also generates significant industrial and commercial synergies. The Waterloo production site in Kitchener becomes a strategic manufacturing hub for several of the group's brands, including Somersby, which has been locally produced since 2020. By combining Carlsberg's international brands with Waterloo's local references, the company creates a more competitive player in the Canadian beer and RTD market. Beyond commercial strengthening, the deal allows Carlsberg to secure local production capacity, enhance its logistical efficiency, and accelerate growth in a market category benefiting from favorable consumer trends. For Waterloo Brewing, the partnership provides access to the resources, brands, and international network of one of the world's leading brewing groups, supporting the long-term pursuit of its development goals.