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Jenner & Block recently represented KPS Capital Partners and one of its portfolio companies, North American Breweries, Inc., in the acquisition of Independent Brewers United, Inc. The financial terms of the transaction were not disclosed.
Independent Brewers United is one of the largest craft brewers in the United States, operating three state-of-the-art breweries and six retail locations in California, Oregon, Vermont and Washington. It produces, markets and sells the complete line of Pyramid, Magic Hat and MacTarnahan’s brands of beer; Magic Hat has been one of the fastest growing craft brewers every year since 2005.
KPS formed North American Breweries (NAB) in 2009 as a platform for investments and growth in the beer and malt beverage industries. NAB owns Genesee Brewing Company, one of the largest and oldest continually operating breweries in the United States, and is the exclusive marketer and seller of Labatt brand beer and Seagram’s Escapes in the U.S. With the addition of IBU, NAB has leading brands in every segment of the beer and malt beverage market and four significant breweries strategically located on the East and West Coasts.
KPS Capital Partners LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.6 billion of committed capital focused on constructive investing in restructurings, turnarounds and other special situations.
The Firm’s team on this matter was led by Partner John F. Cox and Associate Peter H. Rosenbaum and included, among others, Partners Steven R. Meier, Elizabeth A. Davidson, S. Tony Ling, Donald S. Horvath, Adam Petravicius and Steven M. Siros; Associates Marc E. Harrison, Valery K. Slosman, Alexander J. May, Kristen M. Boike, Joshua Rafsky, Brian Mikulencak, Alexandra E. Dowling, Penelope P. Campbell and Allison A. Torrence; Of Counsel Emma J. Sullivan; Senior Paralegals Michael L. Whitchurch and Mariann R. Murphy; and Paralegal LaTonia Warren.
For additional details of the transaction, please click here to view the KPS Capital Partners’ press release.