Jaimoe

I've had my fair share of cheap Lakeport over the last year or two. It's ok, but the price is right. I hope that doesn't change: Labatt to swallow Lakeport Discounter agrees to $201.4-million takeover offer KEITH MCARTHUR FOOD AND BEVERAGE REPORTER; With files from reporter Boyd Erman Lakeport Brewing Income Fund, the scrappy Ontario discounter that helped shatter Canada's duopolistic beer market, has agreed to a takeover offer from one of the very giants it took on. Labatt Brewing Co. Ltd. says it will continue to participate "aggressively" in the discount beer market if its $201.4-million offer to buy Lakeport gets the required approval from the federal Competition Bureau. But some industry observers say a Lakeport takeover would allow Labatt and Molson Coors Brewing Co. to regain some of the pricing power that, in the past, made Canada's beer market among the most profitable in the world. "This looks quite a bit like an attempt to take out a low-cost competitor," said Peter Holden, an analyst at Veritas Investment Research. "For the past number of years, the value beer segment has been stealing share away from the mainstream brands where Labatt and Molson make all their money. "This is almost certainly an attempt to stop the bleeding," he added. "I would expect that Lakeport will become much less aggressive in expanding their market share under the new owners." Lakeport has grabbed 12 per cent of the Ontario beer market, making it the No. 3 brewer behind Labatt and Molson. Between them, Molson and Labatt own 80 to 90 per cent of the Canadian beer market. That includes global brands on which they hold Canadian sales and marketing rights. Lakeport's chairwoman and chief executive officer Teresa Cascioli, who has become the public face of the company and owns 21.6 per cent of the fund's units, stands to pocket $43.5-million if the deal goes through. Lakeport units closed the day at $27.92 yesterday, just below the Labatt offer of $28, indicating some doubt about whether a richer bid will surface. The offer represents a 36-per-cent premium from Lakeport's Wednesday close. Industry observers said a richer bid from Molson is unlikely because that company also stands to gain if Lakeport's pricing becomes less aggressive under Labatt's ownership. "This [news] is the most wonderful of all for Molson. They don't have to lay out the $200-million and they get all the same benefits," Mr. Holden said. Labatt is a division of beer giant InBev SA, whose other brands include Stella Artois, Hoegaarden and Beck's. Ms. Cascioli, who has cultivated a public persona as a champion for the consumer, said she did not seek assurances from Labatt that it would keep offering some Lakeport brands at $1 a bottle, plus deposit. But she said Labatt's willingness to spend $201.4-million shows the brewery believes in the brands. "Given their appreciation for the Lakeport brand equity, I believe that . . . Labatt is convinced the value category is here to stay and is truly a consumer preference and an area they wish to partake in." According to the Beer Store, there are 78 brands in Ontario operating in the discount segment, offered by Labatt, Molson, Lakeport and other smaller players such as Brick Brewing Co. Ltd. While no one expects Labatt to get out of the discount segment, the brewer will likely do fewer price promotions and use the Lakeport brands as "price flankers" to stop the discount category from growing, said Alan Middleton, a marketing professor at York University's Schulich School of Business. The companies say they don't know how long it will take to get approval for the deal from the Competition Bureau. Labatt says it would be willing to close the deal under an arm's-length "hold-separate" arrangement while the bureau conducts its review. While there is precedent for such an arrangement, the competition watchdog said yesterday that it doesn't typically allow them because they make it more difficult for the bureau to negotiate remedies if it feels a merger would lessen competition. "We generally do not find hold-separate agreements acceptable," said Melanie Aitken, the bureau's acting deputy commissioner for mergers. Dany Assaf, a lawyer specializing in competition law at Ogilvy Renault LLP, said it is unlikely that the bureau would require Labatt to maintain buck-a-beer pricing for the Lakeport brands. He said that if the bureau has concerns about a lessening of competition in the discount segment, it is more likely that Labatt would have to divest some of its own discount brands, or some of the brands it is acquiring from Lakeport. Ms. Cascioli said Labatt's bid, which requires the approval of two-thirds of the fund's units to succeed, was unsolicited. RBC Dominion Securities Inc. acted for Lakeport, while Credit Suisse Group acted for Labatt. ***** The bid Target: Buck-a-beer upstart Lakeport Brewing Income Fund Bidder: Labatt Brewing Co. Ltd., owned by InBev SA Price: $28 a share, which is 36 per cent higher than yesterday's close and values the company at $201.4-million. Allure: "Lakeport has had great success growing their brands in the value segment of the highly competitive Ontario beer market," Miguel Patricio, president of Labatt's North American operations, said. The pay day According to Thomson Financial, Lakeport CEO Teresa Cascioli holds about 25 per cent in the company, which means she could gain about $40-million from the deal at current stock prices. ***** A matter of taste As far as beer snobs are concerned, there's not much difference between InBev/Labatt's and Lakeport's brews. Here's a selection of rankings from the website ratebeer.com. Beer Maker Ranking Lakeport Pilsner Lakeport *½ Lakeport Wee Willy Lakeport **½ Lakeport Honey Lager Lakeport *½ Stella Artois InBev **½ Leffe Blond InBev ***½ Brahma InBev *½ Beck's InBev **½ Labatt Blue Labatt **½ Labatt 50 Labatt **½ Kokanee Labatt **½ Alexander Keith's Labatt **½ Tennents InBev **½ Budweiser Labatt *½

Thanks. I'm booking a flight as we speak. My friend lives in Scotland (he's from London) and he contributed to the UK expensive pint thoughts in my head. I guess it all depends on where you go.

2 pounds equals about 5 bucks. Like I said' date=' I believe those prices in downtown London but let's not muddy the waters. [/quote'] Ok, but my friend was recently in Scotland and Dublin and he said the prices are pretty damned expensive.

Vicki's boss is an evil witch who owns the bar. She will fire someone because they they stack chairs too slowly on a night shift.

I'm pretty sure BT is not recorded, but I'll have a look today for a broadcast tape.

Wouldn't almost every server/bartender in North America get audited? I believe she does declare some of her tips now that I think of it, but not all (obviously). I've seen Vicki's boss fire employees for no good reason - sometimes because they aren't pretty enough. If her boss wants to fire someone, she will and creates reasons. You can get the employment standards, but you could also get black-balled but more often than not, the severs don't know their rights and the bosses know it.

Oh yeah, my wife has to pay the bill for any walk-outs (aka dine-and-dash). She's also been assaulted on the job by a patron and has to deal and be civil to idiots on an hourly basis. She could also get fired without notice or reason.

Don't let it grind your gears. Urban sprawl and global warming piss me off a lot more than tipping. My wife does not declare her tips but her bank, my bank and the government seem to understand this.

I know that. I was talking about the lack of server benefits. I can see you have a beef with tipping.

Factor in the exchange rate and it's pretty accurate. I can say that beers cafes in France are pretty expensive compared to here.

yeah i know. i still tip' date=' and i think i tip well, but i can't wait for the day when i don't have to. [/quote'] If that ever happens, get ready for $10 pints and $15 glasses of wine. For example, look at Great Britain. Also, bar/restaurant owners actually often pay their servers under minimum wage in North America, so all the power to said servers/bartenders with accumulating tips. My wife, who is a bartender/server, has been sick all week and thus hasn't made a nickel and doesn't get sick pay. And like all servers, she doesn't have a medical plan of her own (I do, so she's covered).

Great album. M. Ward was terrific when he opened for MMJ @ The Opera House three years ago.

I agree with you on all points of clarification. There are very very few artists I would drive a long distance to see and none are on the Bonnaroo bill.

Here's the info and I think I'll apply: Chart's Looking For Music Writers And Interns Monday January 29, 2007 @ 06:00 PM By: ChartAttack.com Staff We want you to write for us! Chart Communications is looking for both writers and interns to help contribute to our ChartAttack.com website and monthly Chart magazine. All writer positions available are of the freelance, occasional contributor variety, and pay is modest. Music writers from all major Canadian cities will be considered, however we have specific interest in writers from the following places: Toronto Montreal Saskatoon What type of writers do we need? We need MUSIC writers. If you don't feel you know as much as or more than your local record store employee about music, there's a strong likelihood you don't have the all-consuming zeal it requires to effectively navigate this very niche culture. We're looking for people with all sorts of musical interests, but the contributors we need most right now are into the following things: rock, radio-rock, pop, indie rock, hip-hop, punk, R&B, metal, screamo, pop-punk, hardcore, electronic, dance and goth. A solid knowledge of Canadian artists in these various genres is a tremendous asset. What will help your cause: Being familiar with Chart magazine and ChartAttack.com, understanding the type of artists we like to cover, and how we cover them. Professionalism, superb writing, reporting and interviewing skills, as well as an analytical flare and an understanding of pop music/culture. Having good ideas. Anyone can do an interview and write a record review. We want people who can do those things and present them in fresh, entertaining ways. A flexible schedule with some availability for interviews and assignments. Seeing lots of shows and buying records. This leads us to believe that you actually pay attention to what's going on and care about music. Previous music writing experience will be considered a tremendous asset. What to send: Write us a 400-to-500-word bio/resume about yourself, your musical interests and why you think you'd be a valuable contributor to Chart. You can also send us up to two clips of articles that you've written previously. For the added High Fidelity factor, also feel free to include the following top five lists: most recent records you bought; most recent concerts you've seen; and favourite bands of all time. As an optional added segment, feel free to riff on one (and ONLY one) of these essay subjects (maximum 200 words): My strangest encounter with a band. Things I witnessed while Nelly Furtado's "Maneater" played at a club/party/event. The best band gossip I heard this week. How and where to send it: Everything should be sent in the body of an email. Resumes with attachments will be deleted. Email it to aaron@chartattack.com with the subject line, "Music Writers Wanted — City," the city part being the actual city you're from. If you send us a canned resume and a "please send me your writer guidelines" email, you'll be deleted. If you can't put any effort into it, neither can we. For prospective interns: We've got up to three positions available for unpaid internships, starting immediately, with an expected commitment until at least April. To apply, write up something according to the writers wanted criteria above and send it in using the subject line, "Interns Wanted." A premium will be placed on candidates who exhibit tremendous writing potential as well as knowledge of contemporary music. Music writing experience is an asset. Other stuff: No phone calls please. Only those being considered will be contacted. Note: If you've sent us a resume in the last calendar year and are still interested in being considered as a contributor, please resend your package according to the above criteria.

Actually, Prime Time Sports is excellent. The round-table segments are great and I like when Jim Kelly co-hosts.

Virtually none, but I watch tons of new music at work.

Of all the bands that are playing Bonnaroo you single out Pearl Jam? I'm not the biggest fan of Eddie and the boys, but they put on some of the biggest and best rock concerts period. They aren't a singles/video band either, which fits perfectly with almost every other act already booked. Too bad they won't be there.

Ron said on Saturday that the CBC only had the rights for the opening ceremony - see A Channel and RDS.

Bob has his faults: pompous, self-rightous, know-it-all, sexist, pro-gambling and from what my friends at TSN who worked with him told me, a mean lazy ass. I still find his show a must listen on a daily basis. He knows the sports business inside and out and will generate interesting debates on an hourly basis.

I agree with some of your points. The thing is, I'm tired of Jays appologists. Wilner acts more as a counter-balance to the rest of the Jays on-air crews - they often make my skin crawl. Wilner is pompous, but man, those post-game shows must be taxing for any host. I do like Jerry and I'm looking forward to hear Ashby's spin on the team this year. No wonder Bobcat shoots down so many callers on Prime Time Sports, even though he has a pretty good producer/screener.

Over. I've heard many of Dryden's monologues.

Says you! Drop that shit altogether. Same with the NBA. Agreed, although the 3-point competition has had its moments over the years. The dunking competition is boring as hell.

I don't like Sufjan, but I can't believe he's booked at the relatively tiny Lee's Palace. His butterfly wings will be a tough squeeze on stage.

Consider your "family thing" a blessing. Taking a kid to an All-Star Game is child abuse.

Now I'm psyched for tonight's AHL All-Star Game.