North American Breweries sold for $388-million

Posted at: 10/26/2012 1:47 PM

North American Breweries, which sells Genesee and Labatt beers, has been sold to Cerveceria Costa Rica, S.A. (CCR) by KPS Capital Partners for $388-million.

KPS announced in February 2009 the formation of North American Breweries, Inc. which included the acquisition of High Falls Brewing Company and an agreement to acquire Labatt USA from InBev. Other brands included under the NAB name include Honey Brown Lager, Magic Hat and Pyramid.

The transaction, which is expected to be completed in the fourth quarter, is subject to customary closing conditions.