Sleeman Breweries Ltd. of Guelph, Ont., will pay $36.5 million for Chambly-based craft brewer and Quebec competitor Unibroue Inc., the two companies announced yesterday. The price includes $5.5 million in Unibroue debt.
The deal gives Sleeman much-needed brewing capacity, an instant chunk of the Quebec micro-brewery market, and a prospering distribution channel into the U.S. market to add to Sleeman's own efforts there, analysts said. It's also expected to add about $5 million to Sleeman's operating profits next year, consolidating Sleeman's position as Canada's third-largest brewer behind giants Molson and Labatt.