HedgeCo.Net — Wayne, Pa.–based Saothair Capital Partners said Thursday it completed the acquisition of CCR American Holdings, Inc. (FIFCO USA) from Distribuidora La Florida, S.A., a Heineken N.V. subsidiary, through a newly formed affiliate. Terms were not disclosed. After closing, the Rochester, N.Y. brewer will return to its former name, North American Breweries (NAB). Saothair’s PR Newswire release is the primary. WXXI News independently confirmed the Saothair purchase, the NAB name restoration, and Peter Bodenham’s appointment as CEO.
NAB’s branded portfolio includes Labatt, Genesee, Seagram’s Escapes, Lipton Hard Iced Tea, and Bubly Wine Refresher, and the company is also a large U.S. contract brewer operating from the Genesee Brewery with more than 700 employees. Bodenham previously held senior marketing roles at NAB through 2014; Rich Lozyniak, Saothair co-founder and operating partner and NAB CEO from 2009 to 2014, will support the team. Jenner & Block advised Saothair; Sidley Austin and Bank of America advised Heineken.
This is a completed corporate carve-out with undisclosed consideration, not a signed LOI. Mark Saothair as buyer, Heineken/Distribuidora La Florida as seller, NAB as the restored name, Bodenham as CEO, and >700 employees / Genesee Brewery as the operating footprint. Do not invent purchase price, EBITDA, or brand-level volume. The allocator object is a middle-market industrials sponsor repatriating a regional brewing platform Heineken had flagged as non-core after buying FIFCO.