BRICK CEMENTS LAKER DEAL
By Adnews Staff
The Brick Brewing Co. of Waterloo, Ont. finalized its $3-million purchase of the Laker beer brands from Toronto-based Molson Breweries yesterday. The deal involves cash payments and the issuance of 19% of Brick's outstanding shares to Molson. The Laker acquisition is the latest in a series of moves Brick has made recently to lay the foundation for a larger brewing operation. In December 1996, the company acquired the Conners beer brand and trademarks. In February of this year, Brick picked up the exclusive worldwide rights to the Andechs beer brand. Last month the brewer announced its intention to acquire the assets of Algonquin Brewery, including the Algonquin and Formosa Springs brands. Brick handles its advertising in-house. The company's beers include Brick Premium Lager, Brick Amber Dry, Waterloo Dark and Red Baron.