Gone are the days when Banded Peak Brewing Co. can say it’s a fledgling local brewer.
A Calgary brewery started by childhood friends announced a nearly $10-million investment, which will nearly double its square footage and balloon its staff size.
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Once-tiny Calgary microbrewery quadrupling output with nearly $10M Labatt investment
The investment will allow Banded Peak to approximately double its operations and boost its staff by 68 per cent
Labatt and Banded Peak made the announcement Wednesday at the brewery’s facility in the “Barley Belt” — the southeast Calgary industrial area with a high density of taprooms — with Calgary Mayor Jyoti Gondek and Alberta’s Jobs, Economy and Trade Minister Matt Jones in attendance.
‘We’re working with people who know how to sell beer’
Banded Peak was snapped up by Labatt in early 2020, just four years after being co-founded by childhood friends Alex Horner, Matthew Berard and Colin McLean. It produces well-known beers such as Mount Crushmore and Summit Seeker.
Summit Seeker was named the world’s best English Style IPA at this year’s world beer awards.
The brewery has added eight full-time positions and 12 part-time staff, with a focus on front-of-house, logistics and brewery operations. The building expansion also includes a “state-of-the-art lab” and will fund a bulk grain silo to reduce plastic waste in malt shipping.
“There’s a couple ways you can grow your business — a bank loan, private equity or work with a larger brewery and work with a company like Labatt. We’re working with people who know how to sell beer,” said McLean, one of Banded Peak’s founders.
The new lab will be used for quality assurance testing.
Rising cost of malt, other materials creating strain for Alberta brewers
At the time of Labatt’s 2020 acquisition of Banded Peak, it was the second time in just nine months a local brewery had been bought by a multinational.
But those have been the only two acquisitions of Calgary breweries over the past five years, said Blair Berdusco, executive director of the Alberta Small Brewers Association.
Over the same period, she said, the number of brewery licenses in Alberta has more than doubled.
Support from a major company is a boon for business, Berdusco said, particularly with rising input costs for items such as malt hitting smaller operations.
“Margins are a lot slimmer, so breweries are having to be more creative about what they’re putting out there, how they’re running their breweries and maybe focusing a bit more on the front of house,” she said.
Overall, about 10 per cent of breweries are “looking to close their doors,” Berdusco said.
“Ingredient costs and material costs are going up across the board. It’s still a challenging business, regardless of the size of your business.”
Berdusco said Calgary may be reaching its ceiling for the number of breweries it can support, particularly with tourism returning to pre-pandemic numbers. In Edmonton, she’s seen a significant number of small craft breweries open over the past year.
In larger, high-density cities such as Toronto and Vancouver, some small craft breweries have struggled to stay afloat amid industry saturation.
“Edmonton is growing significantly — they’ve had the majority of brewery openings this year,” Berdusco said.
“People are still very much interested in what (breweries) are offering and how they differ from each other.”
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Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
- Validating the will. The court checks if the will is legal and valid.
- Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
- Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
- Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
- Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
- Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
- Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
- Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
- Create a will. Ensure a valid will is in place to avoid complications.
- Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
- Organize documents. Keep key financial and legal documents in one place for easy access.
- Talk to your family. Have open conversations with your family to prevent future misunderstandings.
- Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets climbed to their best week of the year.
“It’s been almost a complete opposite or retracement of what we saw last week,” said Philip Petursson, chief investment strategist at IG Wealth Management.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
While last week saw a “healthy” pullback on weaker economic data, this week investors appeared to be buying the dip and hoping the central bank “comes to the rescue,” said Petursson.
Next week, the U.S. Federal Reserve is widely expected to cut its key interest rate for the first time in several years after it significantly hiked it to fight inflation.
But the magnitude of that first cut has been the subject of debate, and the market appears split on whether the cut will be a quarter of a percentage point or a larger half-point reduction.
Petursson thinks it’s clear the smaller cut is coming. Economic data recently hasn’t been great, but it hasn’t been that bad either, he said — and inflation may have come down significantly, but it’s not defeated just yet.
“I think they’re going to be very steady,” he said, with one small cut at each of their three decisions scheduled for the rest of 2024, and more into 2025.
“I don’t think there’s a sense of urgency on the part of the Fed that they have to do something immediately.
A larger cut could also send the wrong message to the markets, added Petursson: that the Fed made a mistake in waiting this long to cut, or that it’s seeing concerning signs in the economy.
It would also be “counter to what they’ve signaled,” he said.
More important than the cut — other than the new tone it sets — will be what Fed chair Jerome Powell has to say, according to Petursson.
“That’s going to be more important than the size of the cut itself,” he said.
In Canada, where the central bank has already cut three times, Petursson expects two more before the year is through.
“Here, the labour situation is worse than what we see in the United States,” he said.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published Sept. 13, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
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