Anheuser-Busch InBev NV has
agreed to sell LaBatt USA to KPS Capital Partners as part of the Department of Justice's approval of the $52 billion merger of the companies. Terms of the deal were not disclosed.
What's interesting is that it looks like KPS, which manages $1.8 billion, is brewing up a beer company of its own and calling it North American Breweries. The private equity
company is also buying High Falls Co., the
brewer of Genesee beer, acquiring licenses for Pernod Richard SA's Seagram's coolers and searching for more takeovers to bulk up its bar.
It's no wonder. There's a lot of consolidation in the beer industry, especially among craft brands, as Argus Research's Erin Ashley Smith told us back in
November. And craft beer sales are up, outperforming larger players in the beer industry, according to
The Boston Herald. By rolling up a bunch of craft brands and increasing their distribution, KPS could potentially make its brewery an attractive target for a strategic down the road or even take it public.
- Maria Woehr
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