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Big Rock Brewery Inc. and Fireweed Brewing Corp. announce joint venture agreement

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Transmitted by PR Newswire for Journalists on April 20, 2018 12:38 AM CEST
         
 

Big Rock Brewery Inc. and Fireweed Brewing Corp. announce joint venture agreement

 
 

CALGARY, April 19, 2018 /CNW/ - Big Rock Brewery Inc. (TSX: BR) (“Big Rock”) and Fireweed Brewing Corp. (“Fireweed”) today announced they have entered into a joint venture agreement.

 

The primary market focus will be in British Columbia where Big Rock’s Vancouver brewing facility will be operated under a contractual joint venture agreement. The Vancouver brewery, located on West 4th Avenue and Alberta Street, is undergoing renovations which include the addition of new canning lines and brewing vessels to expand brewing capacity up to 26,000 hectolitres to allow for the production of products for both companies. Production of Fireweed products for the Alberta market will be handled under a contract manufacturing agreement.

“This is an incredible opportunity to expand the Vancouver brewery and leverage the many strengths of both Big Rock and Fireweed Brewing Corp, a well-respected BC-grown business,” says Wayne Arsenault, President and CEO of Big Rock Brewery.


“Combined, we have over half a century of Canadian craft brewing experience, and while we will remain independent businesses I look forward to working with Fireweed to drive cost efficiencies and further grow our brands,” says Arsenault.


Among Fireweed Brewing Corps beverage brands are Tree Brewing, Dukes Cider and Shaftebury.


Tod Melnyk, President and CEO of Fireweed commented, “In the fast pace competitive craft beer environment, craft brewers must look for new ways to be sustainable, relevant and profitable.. We believe this joint venture is a model for the future and we are excited to work with the Big Rock team to grow our businesses.”  


The agreement is expected to become effective on May 31, 2018, with joint venture operations to commence in June 2018.


About Big Rock Brewery Inc.


In 1985, Ed McNally founded Big Rock to buck the time’s beer trends. Three bold, European-inspired offerings – Bitter, Porter and Traditional Ale – forged an industry at a time heavy on easy drinking lagers and light on flavour. Today, our ten signature beers, ongoing seasonal offerings, four ciders (Rock Creek Cider® series) and custom-crafted private label products keep us at the forefront of the craft beer revolution, still proudly bucking the time’s beer trends. Big Rock brews in Calgary, Alberta, Vancouver, British Columbia, and Toronto, Ontario. For more information on Big Rock Brewery visit www.bigrockbeer.com


About Fireweed Brewing Corp.:


Fireweed Brewing Corporation is a privately-owned beverage company located in Kelowna BC. Fireweed’s beer brand (Tree Brewing Co.) is an award-winning brewer of craft beer, cider and refreshment beverages.


In 1999, Tree Brewing launched its signature beer Hop Head IPA, the first ‘serious IPA’ to be crafted for wide consumption by a Canadian brewery.. Dukes Cider Company was launched in 2011 and in 2013, Fireweed purchased Shaftebury Beer brands from Sleeman Breweries. Fireweed’s brewing philosophy is to brew memorable, well balanced and flavourful beers, regardless of the style. Tree Brewing celebrated its 20th-anniversary milestone in 2016.


Forward-Looking Information


Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events or Big Rock’s future performance. All statements, other than statements of historical fact, may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “plans”, “expects”, “intends” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Big Rock believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this News Release not be unduly relied upon by investors as actual results may vary materially from such forward-looking statements. These statements speak only as of the date of this News Release and are expressly qualified, in their entirety, by this cautionary statement.


In particular, this News Release contains forward-looking statements pertaining to the following:


     
  • the expansion of Big Rock’s Vancouver brewery and the expected capacity of the brewery;
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  • the expected effective date of Big Rock’s joint venture agreement with Fireweed; and
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  • the expected timing of the commencement of joint venture operations..
  •  



With respect to the forward-looking statements listed above and contained in this News Release, management has made assumptions regarding, among other things:


     
  • contractual conditions to closing will be satisfied within currently contemplated timelines; and
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  • construction activities will be completed within expected timeframes.
  •  



Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking information and statements contained herein include, but are not limited to:


     
  • the inability to secure any requisite approvals within the timeframes indicated; and
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  • the inability to complete construction services for the expanded Vancouver brewery within the timeframe indicated.
  •  



Readers are cautioned that the foregoing list of assumptions and risk factors is not exhaustive.  The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking information and statements included in this News Release are made as of the date hereof and Big Rock does not undertake any obligation to publicly update such forward-looking information and statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

 

SOURCE Big Rock Brewery Inc.


  CONTACT: Shelley Girard, VP Marketing, Big Rock Brewery, 403.720.3239

Web Site: www.bigrockbeer.com

 
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Posted on Apr 20, 2018 - 12:41 AM • Print