Golden Opportunities Fund Inc. Completes Acquisition of Fort Garry Brewing Company
Saskatoon, Saskatchewan – January 9, 2017
Golden Opportunities Fund Inc. (“GOF” or “Golden”) is pleased to announce it has completed the acquisition of Fort Garry Brewing Company (“FGBC”), a wholly owned subsidiary of Russell Breweries Inc. (TSX Venture: RB) (“RBI”) whereby Golden, and its syndicate comprised of management and local strategic partners, has purchased all of the assets of FGBC in its business of producing beers under the name Fort Garry Brewing Company.
Tracing its roots back to 1930, when FGB was established by B.W. Hoeschen, FGB is the original and oldest microbrewery in Manitoba, and a pioneer in the budding local beer industry. Initially, FGB produced two staple products, Frontier Stout and Frontier Beer, the latter of which gained international recognition when it won “Best in Class” in an England based competition against other commonwealth breweries. In 1960, FGB was acquired by Molson, and during the 1990 merger between Molson and Carling O’Keefe, the brewery was closed. 9 years later, the brewery was reopened by Richard Hoeschen, the great grandson of the brewery’s original founder. In 2007, FGB was acquired by Russell Breweries Inc., taking the ownership of the brewery outside of Manitoba.
Located in the Tuxedo Industrial park in Winnipeg, Manitoba, FGB operates out of a 25,000 square foot facility and through recent expansion now has the capacity to produce annual volumes of 24,000 hectoliters of beer annually. Today, FGB produces in excess of twenty different brands, which, on a combined basis cater to the entire spectrum of the beer consumer, including classics such as Frontier Pilsner and FGB Dark, as well as seasonal and special release craft products. The products are sold at over 200 restaurants, pubs, bars, and retail outlets across the province and come in a variety of formats including 6 and 12 pack cases of 341 ml bottles, 471 ml cans, 650 ml bottles and growlers which can be purchased at the brewery and select Manitoba Liquor Marts.
The completion of the transaction represents significant development in the history of the company, as it brings ownership of this local brewery back to Manitoba residents, both through the broad shareholder base of Golden Opportunities Fund, and the syndicate partners.
About Golden Opportunities Fund Inc.
Golden Opportunities Fund is a retail venture capital fund launched as the first in the province of Saskatchewan in 1999 and raising Manitoba investment capital since 2008. The Fund has invested $350 million in 128 companies since its inception and has more than 28,000 shareholders across the two provinces.
For further information, please contact:
Wanda Hunchak, Vice President
Westcap Mgt. Ltd.
830 – 410 – 22nd St., E.
Tel: (306) 652-5557