Labatt Buys MacTarnahan's, Pyramid, and Magic Hat

Last week Widmer acquired Kona, and today, Labatt bought up the collective of breweries known as Independent Brewers United--that is, Magic Hat, Pyramid and MacTarnahan's. Labatt, which is owned under the title North American Breweries, also owns Genesee and Dundee. In a press release, the new owners claim that they will change nothing:
  • The beer will remain the same: it will be brewed by the same people in the same breweries, using the same recipes, ingredients and commitment to artisanship as it has always been.
  • All breweries, Alehouses and the Artifactory will remain open. They provide a unique opportunity to sample and showcase the company's best beers and brewing capabilities. Through the retail locations, we can talk to customers about the beers they want us to make.
I'm trying to track down someone for a comment on the Mac's side. I'll update you if I can find out more.

Update. Still haven't gotten anyone from Mac's, but there's a nice clarifier from Frank White in comments:
An NYC-based private equity firm called KPS Capital Partners bought bbought both Genesee and Labatt's USA rights (from Bud/InBev) last year, and formed a shell subsidiary called North American Breweries. NAB is now buying IBU, which is Magic Hat, Pyramid & Mac's.

This deal is happening because the private equity fund (Basso Capital Mgmt)that's financed Magic Hat's expansion and subsequent purchase of PyraMac (I just invented that) has been hemorrhaging cash and "has decided to exit the beer business". So they're selling the whole thing to KPS, which specializes in "turnarounds, restructurings, bankruptcies, employee buyouts and other special situations". Basically it's a distressed sale, not strategic in any way.
Jeff Alworth8 Comments