Molson Coors in negotiations with possible buyer of Montreal brewery
The brewery, in operation since 1786, was put on the market in the fall
Molson Coors has confirmed it is in discussions with Groupe Sélection for the sale of its iconic Montreal brewery.
Groupe Sélection, formerly known as Réseau Sélection, is best known for building retirement homes throughout Quebec.
It was selected from several bidders. According to Molson Coors, there are now several steps to complete before the sale is completed.
The brewery, in operation since 1786, was put on the market in the fall after the company decided to move its operation to a new plant in Longueuil by the year 2021. However, it will maintain its offices in Montreal.
The brewery, which towers over Notre-Dame Street near the Jacques-Cartier Bridge along the St. Lawrence River, has been the subject of a public consultation that began last week.
The departure of Molson offers "a unique opportunity to rethink the relationship to the river," reads a document prepared by Montreal's public consultation office (OCPM).
The City of Montreal has given itself a right of first refusal on the Molson site, meaning it could buy the property at the same price as that offered by an eventual buyer.
With files from Radio-Canada