Russell Breweries Shareholders Approve Sale of Business, Split with Fort Garry Subsidiary
On November 29, 2016 At 6:00 pm
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SURREY, BC – Russell Breweries has announced that its shareholders have approved asset purchase agreements that will see its two brewing operations – Russell Brewing in British Columbia, and Fort Garry Brewing in Manitoba – sold to new ownership groups.
As originally announced in October, Fort Garry will be sold to a new limited partnership backed by “one of the largest diversified private equity/venture capital firms within the prairie provinces,” while Russell will be taken over by a numbered company owned by Yong Lin and Xiaomin Wang. Both deals are expected to close in coming days, after which the existing Russell Breweries corporation will be dissolved.
More details are available in the full press release from Russell Breweries.