Big Rock keeps taps pouring with debt restructuring and equity raise
Big Rock has long been celebrated as a trailblazer in Alberta’s craft brewing scene, producing iconic brews that have defined the local beer culture.
It was founded in 1984 by Ed McNally, who was disappointed in the beer available to buy in Calgary.
A lawyer by trade, McNally was representing a group of barley growers in a legal action against the Alberta Wheat Board in the 1980s.
Through the course of the legal action, McNally learned that the Alberta climate produces 2-row barley that is ideally suited for malting. At the time, most Alberta barley production was used as cattle feed.
The name ‘Big Rock’ was chosen after the Okotoks Erratic, a 16,500-tonne glacial boulder located on Highway 7 near Diamond Valley.
He passed away in 2014 at the age of 89.
The restructuring will allow the company to focus on innovation, operational efficiency, and its mission to remain a leader in Canada’s craft beer industry.
Big Rock shares are up more than 13% since the deal was announced. On Monday they were up four cents to $1.20 on the Toronto Stock Exchange.