Formosa Brewery to continue under sale
The new owners of the Formosa Brewery in South Bruce say they plan to continue operation at the facility as well as employment for the local community.
Brick Brewing, Ontario’s largest Canadian-owned brewery, announced September 1, they had reached a deal to sell the plant for $2.4 million to a Chinese buying group.
A spokesman for the buyers says acquiring the operation and its long history was too attractive to pass up.
Brick says its working closely with the buying group to ensure a seamless transition and start-up.
The sale is part of Brick’s decision to consolidate all of its operations at a new facility in Kitchener.
The company expects that move to save it $600,000 per year.
The sale includes land, building, equipment as well as both the Red Baron and Formosa Springs brands.
The brewery employs close to 20 people.
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