Molson Coors Brewing Company is planning to spend up to $500 million to build a new Montreal brewery, multiple sources reported. The company decided on the new build project instead of modernizing its 231-year-old facility along the St. Lawrence River, reports said, citing a company announcement to employees.
The brewer’s decision follows a two-year study. The location of the new brewery has not yet been announced.
The company will maintain a microbrewery and sales venue at the historic site near Old Montreal and the rest will be sold for redevelopment.