The craft beer industry is growing at a fairly impressive pace and one of the companies which is an interesting operator in that industry is 1812 Brewing Company Inc (OTCMKTS:KEGS).
The company is focused on the development of a countrywide distribution network for craft beers. At this point in time, 1812 Brewing Company is well-known for having come up with a number of recognizable craft beer brands and on top of that it also runs a brewery restaurant in Sackets Harbor in New York.
The company had been in the news not too long ago on January 27, 2023, when it came up with a shareholder update.
It provided updates with regard to the work it had accomplished to further its strategy. The company noted that it had presented an Indication of Interest letter to the acquisition target and that had led to in-person meetings as well.
On the other hand, the company’s entry into the Canadian market had also made significant progress. The company decided to enter the market through the Province of Ontario. 1812 Brewing Company also announced that the management was also looking to make acquisitions in the beverage industry at large and was going to focus on targets that could complement its own brands.
Earlier on in the month on January 24, the company made an announcement with regards to the fact that it had started the application process for entering the Canadian market. The company announced that it sent in its application to The Liquor Control Board of Ontario.
The reason for such a move was that Ontario was close to the company’s own operations and on top of that, Ontario’s status as the biggest beer market in Canada titled the scales too. In order to facilitate these efforts, 1812 Brewing Company went into a partnership with the Fine Beer Agency Ltd, which is based out of Toronto.
Back on January 19, the company made another major announcement with regard to the signing of a distribution agreement for the New York City market. It was a business-to-business agreement signed by the company and would include all five New York boroughs in addition to Westchester County.