Saothair Capital Partners has completed its acquisition of CCR American Holdings, Inc., known as FIFCO USA, from Distribuidora La Florida, a subsidiary of Heineken.
Following the transaction, the company is returning to its former North American Breweries name. Financial terms were not disclosed.
North American Breweries is headquartered in Rochester, New York, and its portfolio includes Labatt, Genesee, Seagram’s Escapes, Lipton Hard Iced Tea and Bubly Wine Refresher.
The company also operates a major contract brewing business and employs more than 700 people. Its operations include the Genesee Brewery, one of the oldest continuously operating breweries in the U.S.
Peter Bodenham has been appointed CEO. He has more than 25 years of commercial leadership experience with InBev, North American Breweries and Sleeman Breweries and previously served as Vice President of Marketing at NAB.
Jenner & Block advised Saothair. Sidley Austin served as legal counsel to Heineken, while Bank of America acted as financial advisor.
KEY QUOTES:
“I couldn’t be more excited about this next chapter for North American Breweries. Having led this business myself, I know firsthand what makes NAB special. I look forward to supporting Peter and the broader management team as they take the business forward into an exciting new chapter. Our focus is to provide the stability and resources this organization needs to keep serving its employees, customers and communities well into the future.”
Rich Lozyniak, Co-Founder and Operating Partner at Saothair Capital Partners
“I am thrilled to return to North American Breweries at such a pivotal moment for the company. This is a business with an extraordinary legacy and deep regional roots, and I see real opportunity ahead. We will continue to invest in the Genesee Brewery and the brands that define this portfolio. We have a talented workforce, loyal customers and strong supplier partners, and I look forward to working alongside all of them to build a sustainable, growing business for the long term.”
Peter Bodenham, CEO of North American Breweries
“We’re thrilled to have Peter lead North American Breweries as CEO. We’re grateful to Heineken for making this opportunity possible, and we’re excited to be a part of the future of the company. Saothair is committed to providing the resources needed to make NAB a success.”
Kevin Madden, Co-Founder and Managing Partner at Saothair Capital Partners
“After carefully evaluating a range of potential options over the past few months, we are pleased to announce this agreement with Saothair. Their deep brewing expertise, long-term investment approach, and commitment to growing the business make Saothair the right steward for the next chapter of North American Breweries.”
Rolando Carvajal, CEO of Distribuidora La Florida
