Saothair buys FIFCO USA from Heineken, restores North American Breweries name
What's the deal? Saothair Capital PartnersDealroom has a profile for this one. Try Dealroom → has acquired CCR American HoldingsDealroom has a profile for this one. Try Dealroom →, or FIFCO USADealroom has a profile for this one. Try Dealroom →, from Distribuidora La FloridaDealroom has a profile for this one. Try Dealroom →, a HeinekenDealroom has a profile for this one. Try Dealroom → subsidiary, through a newly formed affiliate. Terms were not disclosed. The Rochester, New York-based brewer will revert to its former name, North American Breweries (NAB).
What each side does: NAB is one of the leading US brewers, making and selling beer and ready-to-drink beverages including Labatt, Genesee, Seagram's Escapes, Lipton Hard Iced Tea, and Bubly Wine Refresher. Saothair is a private equity firm focused on middle-market manufacturing and industrial companies.
The endgame: Saothair says it will invest in the Genesee BreweryDealroom has a profile for this one. Try Dealroom → — one of the oldest continually operating US breweries — and the company's brand portfolio. NAB employs over 700 people and is also one of the largest US providers of full-service contract brewing.
The new hire: Peter Bodenham joins as chief executive officer, bringing more than 25 years across InBevDealroom has a profile for this one. Try Dealroom →, NAB, and Sleeman BreweriesDealroom has a profile for this one. Try Dealroom →. He held senior marketing roles at NAB and its predecessor from 2007 to 2014, including vice president of marketing, before leading marketing for Sleeman. He replaces the leadership under Heineken's ownership.
Why now? Distribuidora La Florida decided to sell after "carefully evaluating a range of potential options over the past few months," said its chief executive officer Rolando Carvajal, calling Saothair "the right steward for the next chapter."
The deal reunites the business with familiar hands. Rich Lozyniak, Saothair co-founder and NAB's chief executive from 2009 to 2014, said: "Having led this business myself, I know firsthand what makes NAB special."
The signal: Global brewers are shedding regional US assets to private equity buyers, who bet local heritage brands can grow under focused, long-term ownership. The name change signals a play on regional identity rather than a global portfolio strategy.
Image credit: Generated with Gemini
