Labatt Breweries To Buy Mike's Hard Lemonade, Okanagan Cider For US$350 Million

Darpan News Desk The Canadian Press, 10 Nov, 2015 02:01 PM

TORONTO — Labatt Breweries of Canada says it will buy Mike's Hard Lemonade and Okanagan Cider in an agreement with the Mark Anthony Group of Companies.

The deal is valued at US$350 million.

Labatt president Jan Craps says the agreement adds a more diverse lineup of drinks to their growing stable of beverages.

The Mark Anthony Group would retain full ownership of its U.S. operations and its Canadian wine, spirits and beer import and distribution business.

Labatt has a portfolio of more than 60 beers made in six breweries in Canada.

The sale is expected to close in the coming months.

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