Andrew Peller announced Monday it is selling Vancouver-based Granville Island Brewing, which will merge with Creemore Springs Brewery, a brewery owned by Molson Coors Canada Ltd.
How much the deal was worth wasn't disclosed. The transaction is expected to be completed in early 2010.
Andrew Peller said the transaction will let it focus on its core wine business.
"Creemore's intention is for Granville Island Brewing to continue operating as a distinct organization benefiting from its own people, knowledge, recipes and marketing methods, in much the same way that Creemore operates in Ontario," said Creemore CEO Jason Moore.
Shares in Andrew Peller gained two cents to $7.87 in Monday trading on the Toronto Stock Exchange.