Firm That Owns North American Breweries Reportedly For Sale
Reuters News Agency reports that the private equity firm that owns Rochester's Genesee Brewery has been put up for sale.
Reuters says KPS Capital, which owns North American Breweries, has hired investment bank UBS to advise on the sale. Reuters cites unnamed sources in the report.
The estimated worth of North American Breweries is said to be worth around $400 million.
When contacted by YNN, a KPS spokesman said the company had no comment.
North American Breweries took over the Genesee Brewery in 2009.
“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.