So I’ve mostly been drinking beer and writing foolish things about it, which is honoring the product in my own particular idiom.
I know there’s a, shall we say, business end to the world of beer and I follow it a little; not as much as I should, for which I am sure I shall receive reprimands from all the important beer bloggers. Whatever, quoth the mysterious author of this blog. Anyway, I have the general perception that when breweries get gobbled up, sold off, conglomerated with a bigger business interest that the beer itself suffers. I feel this is an inevitable consequence of corporatization.
Is that correct? This comes up due to the announcement below, from Real Beer. Seriously, in your experience what has things like this done to beers you like?
I have not had a Genesse or Pyramid or Dundee in forever. I don’t even know if I’d be able to tell if there was a huge difference.
NORTH AMERICAN BREWERIES REPORTED FOR SALE
Reuters reported last week that North American Breweries has been put up for sale by its owner, private equity firm KPS Capital Partners, according to sources familiar with the matter. The beer company could be worth around $400 million, a source said, and KPS has hired investment bank UBS to advise on the sale. NAB’s other brands include beers in the Genesee family, Magic Hat and Pyramid. KPS formed the company in February 2009 when it bought the Labatt brands in the U.S. for an undisclosed price from Anheuser-Busch InBev.
North American Breweries bought the privately held brewer of Genesee and Dundee brands in February 2009. It acquired Independent Brewers United, which owned Magic Hat and Pyramid, in 2010.