This Week
  • North American Breweries CEO sees plenty of potential to grow again.

  • Employers honored as best workplaces find surveys of employee offer valuable insight.

  • Elizabeth Schirmer Shores uses travelers as vehicles for technology in remote locales.

  • Revenues, employment and business prospects all are growing for Vanteon Corp.

  • EO Landon Mertz has big plans for nanotechnology firm Cerion Technology.

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

CEO of Genesee Brewing parent downplays report firm is up for sale

Rochester Business Journal
September 6, 2012

Representatives of North American Breweries Inc. downplayed a report Thursday that the Rochester-based company is being offered for sale by its majority stakeholder.

The company is the parent of the Genesee Brewing Co. in Rochester and a portfolio company of New York City private equity firm KPS Capital Partners LP.

“North American Breweries has been a focus of buying and selling rumors since its inception,” CEO Richard Lozyniak said in a statement released late Thursday afternoon. “We have made it clear that we are always exploring opportunities to build our business.

“It’s our policy not to comment on speculation,” he added. “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.”

Reuters, citing sources familiar with the matter, reported Thursday that KPS has put North American Breweries up for sale. The company could be worth $400 million, a source told the news service.

KPS has hired investment bank UBS to advise on the sale, Reuters reported.

KPS formed North American Breweries in 2009 after buying the former High Falls Brewing Co. LLC and the Buffalo-based U.S. operations of Labatt Brewing Co. Ltd., whose beer is brewed in Canada.

(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google