Breaking: Magic Hat, Pyramid, Dundee, Genesee & Labatt USA parent company, North American breweries, has been put up for sale by KPS Capital Partners. Details from Reuters:
North American Breweries, which sells Genesee and Labatt beer in the United States, has been put up for sale by its owner, private equity firm KPS Capital Partners, according to sources familiar with the matter.
The sources did not want to be named because the process is not public.
The beer company could be worth around $400 million, one of the sources said. KPS has hired investment bank UBS to advise on the sale, according to that source.
NAB's other brands include Honey Brown Lager, Magic Hat and Pyramid.
UPDATE from the Democrat and Chronicle:
“We have made it clear that we are always exploring opportunities to build our business. It’s our policy not to comment on speculation,” Lozyniak said. “But what we can tell you is that the management team and employees are vested and committed to our business. We will continue to grow North American Breweries by focusing on what we do best — make and sell quality beer.”
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