A group led by a Chinese buyer has scooped up the brewery in Formosa.
Brick Brewing will get $2.4-million for the facility and the deal is expected to close in the current quarter.
Brick put the Formosa plant up for sale earlier this year as it looked to save money by consolidating its supply chain.
Zhang Haoliang, the leader of the buying group, says the opportunity to buy the historic operation was too attractive to pass up and the plant will be a way to get into the craft beer business in Ontario.
Formosa's brewing history dates back to 1870.
The sale includes land, building, equipment as well as both the Red Baron and Formosa Springs brands.
