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Canadian beer giant buys a craft beer brewery

Oct 09, 2015

Canadian beer company Labatt Breweries is buying Mill Street Brewery based in Toronto in the latest craft beer merger, The Canadian Press reported Friday.

Labatt, notably, is part of Anheuser-Busch InBev, which recently has become more aggressive in its bid to acquire SABMiller, the second-largest beer company in the world after AB InBev.

The acquisition by Labatt will allow it to push into new areas of Canada with craft beer brands.

"We think that this partnership will really help expand awareness of craft across the country," said Charlie Angelakos, Labatt's vice-president of corporate affairs, in an interview with The Canadian Press Friday.

For more on craft beer, Fortune looked at some of the industry's biggest trends.

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