Reuters, citing “sources familiar with the matter,” is reporting that New York City-based private equity owner KPS Capital Partners has put the NAB brand up for sale. One of the unnamed sources cited by the news organization said the deal could be valued around $400 million. KPS has reportedly hired the investment bank UBS to advise on the sale.
While KPS declined to comment on the news, NAB did provide the following statement to Brewbound.com:
“North American Breweries has been a focus of buying and selling rumors since its inception. We have made it clear that we are always exploring opportunities to build our business. It’s our policy not to comment on speculation. 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,” said Rich Lozyniak, CEO of North American Breweries.
NAB was originally formed by KPS Capital Partners in 2009 after acquiring Labatt and Seagram’s brands and the assets of High Falls Brewing Company. In August of 2010, KPS acquired Independent Brewers United, which produces the Magic Hat, Pyramid and MacTarnahan brand families of beer.