KITCHENER, ON – The Waterloo Record reports that Brick Brewing has announced the sale of its secondary plant in Formosa, along with several beer brands.
A buyers group led by Zhang Haoliang has purchased the 40,000-square-foot facility, which has been used as a brewery since 1870, for $2.4 million. Brick’s Formosa Springs and Red Baron beer brands and associated retail listings were also included as part of the transaction.
The intent to sell the Formosa brewery was originally announced by Brick in January, at the same time that plans were revealed to expand its primary Kitchener brewery it allow for “improvements to blending, packaging and warehousing, […] the final step in consolidating operations to a single site to improve manufacturing efficiency and competitiveness.”
With the sale complete, Brick is now focused on producing two beer line-ups – the craft-oriented Waterloo label, and the budget Laker brand – as well as several licensed brands.
For more details, see the full article.