The company making Iron City beer, headquartered in Pittsburgh and brewing in Latrobe, has been sold to Kittanning-based mining company founder Cliff Forrest.
New York-based Verus Investment Partners announced the sale Tuesday, touting the Pittsburgh Brewing Co.'s 150-year history and the turnarounds the company had made since it was bought in 2011 , when Verus went by Uni-World Capital, LLC.
“During Verus' investment period, PBC returned to positive revenue growth and re-established itself as the beer of choice for the greater Pittsburgh area,” the company said in a news release announcing the sale. “PBC also had considerable success in expanding sales outside of Western Pennsylvania.”
The announcement from Verus did not name the buyer or terms of the sale. An assistant to Forrest, founder and president of Rosebud Mining, referred questions about the sale to Pittsburgh Brewing CEO Brian Walsh, who did not respond to requests for comment.
“The business is well positioned to capitalize on consumer trends in the beer industry and we look forward to the next phase of the company's expansion,” Verus partner Richard Moreau said in the announcement.
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