The biggest brewer in the world, SABMiller Inc., will be buying the largest craft beer store on the Canadian mainland, Block Craft 3D, for $4.5 million.
“The Block Craft brand will help define Canada’s future as the world’s premier craft beer destination,” said David Gantner, chairman of the company’s board.
“It’s the largest beer store and brewery in Canada, which is a reflection of the breadth and diversity of its product.”
Block Craft 3DS, located in the former Block Liquor Store in the historic Centreville neighbourhood, has been on the market since January.
BlockCraft 3D has been around since the 1980s and opened in 2017 in the heart of downtown Toronto’s downtown core.
Its flagship beers include Budweiser, Miller Lite, Coors Light and Bud Light.
The store is located just down the street from the iconic Centreville Brewery, which opened in 1969.
The acquisition follows the sale of Craft Beer Capital Group, which had the rights to BlockCraft 3DS.
Gantner says the acquisition will enable the company to expand into more new markets.
“We’ve been growing steadily at Block Craft over the past few years, so it’s great to be able to build on that and really expand our portfolio,” he said.
At the time of the acquisition, the Canadian craft beer market was worth $1.4 billion.
The market grew by a whopping $2.3 billion between 2018 and 2019.
We look forward to seeing the next Block Craft.””
Block Craft will be able bring an unparalleled level of expertise to our portfolio of award-winning beers, as well as to our beer brands.
We look forward to seeing the next Block Craft.”
The Canadian Craft Beer Association says the company has been active in Canadian markets for more than 30 years and has helped to define craft beer in Canada.
“The Canadian craft brewing industry is one of the fastest-growing in the country, and has a very important role to play in shaping the future of craft beer,” said John Deere, CBA’s CEO.
“We look forward that SAB Miller will continue to help grow the Canadian market for beer.”
This story has been updated to include the purchase price and to correct the spelling of BlockCraft.