(Rochester, NY) – Cerveceria Costa Rica’s nearly-$400 million acquisition of North American Breweries from KPS Capital was the second deal of the week to exceed $300 million, the first being C&C Group’s acquisition of Vermont Hard Cider Co., maker of Woodchuck Cider.
Reuters reports that KPS made more than a 9x return on the deal from the total capital that it invested in the beer portfolio. The final piece the company added was Magic Hat and Pyramid Breweries in 2009 and the company made no beer industry acquisitions in the time since then.
BeerPulse learned on Friday that most NAB employees found out about the sale at the same time that the press release went out announcing it.
Breweries and NAB employees kept mum about the sale on Twitter for the most part, save for a tweet from Point Brewery out of Wisconin touting its independence…
— Point Brewery (@pointbrewery) October 26, 2012
Oh and just who is Cerveceria Costa Rica? A little background from Wikipedia…
Cerveceria Costa Rica is a brewery in San José, Costa Rica, known as the home of Imperial.
Florida Ice & Farm Co. started in 1908 in La Florida de Siquirres, Costa Rica. It was started by the Lindo Morales brothers. At first, the company used to make ice for the banana ships that would come to Limon. In 1912, the Lindo Brothers bought the Cerveceria y refresqueria Traube, which had been started by Jose Traube, in Cartago. From then on, FIFCO’s main business went from producing ice, to producing beverages, and through its main operation, it would be later known as Cerveceria Costa Rica.
It is quite a large player in the beverage industry and handles things like soda in addition to alcoholic beverages. It even produces (or markets/distributes) Heineken. Below is the list of other beer brands the company carries.
Cerveza Imperial Lager
Imperial Light Lager
Pilsen 6.0 Pilsener
Bavaria Light Lager
Bavaria Dark Dark Beer
Kaiser Non-alcoholic beer
Rock Ice Lager
Rock Ice Limon Lager
Rock Ice Golden Monkey Lager
As previously mentioned NAB is the umbrella company for a slew of brands: The Genesee Brewery (which also does Dundee and Seagram’s), Magic Hat Brewing, Pyramid Breweries, MacTarnahan’s Brewing Company and Labatt (exclusive importer & marketer in the U.S.).
As for what ends up happening to what some still see as craft brands in Pyramid Breweries and Magic Hat remains to be seen. For now, the brewers still get to play. Magic Hat just announced this week that it would soon release a new wheat wine called Graupel as part of its Humdinger series.
At least one thing changes though: contrary to what a message on the NAB website reads, it is no longer the largest independently-owned beer company in the United States.