WAYNE, PA — Saothair Capital Partners completed its acquisition of FIFCO USA from a Heineken NV subsidiary and restored the North American Breweries name, putting the maker of Genesee and other beverage brands under private-equity ownership with a former company executive returning as chief executive officer.
The transaction transfers CCR American Holdings Inc., which operated as FIFCO USA, from Distribuidora La Florida SA to a newly formed Saothair affiliate. The company will now operate as North American Breweries, or NAB, its former name.
North American Breweries is headquartered in Rochester, New York, and employs more than 700 people. Its portfolio includes Labatt, Genesee, Seagram’s Escapes, Lipton Hard Iced Tea and Bubly Wine Refresher.
The company also operates a contract-brewing business for beer and other alcoholic beverages, giving Saothair a manufacturing platform beyond NAB’s owned and licensed beverage brands.
Production is centered at the Genesee Brewery in Rochester. The facility includes a newer brewhouse, filtration and fermentation equipment, a dedicated cold block for fermentation and finishing, and a high-speed canning line.
Saothair named Peter Bodenham CEO as part of the ownership transition. Bodenham has more than 25 years of experience in commercial roles at InBev, North American Breweries and Sleeman Breweries.
The appointment marks a return to NAB for Bodenham, who held senior marketing positions at the company and its predecessor from 2007 through 2014, including serving as vice president of marketing from 2009 to 2014. He subsequently led marketing for Sleeman Breweries.
“We will continue to invest in the Genesee Brewery and the brands that define this portfolio,” Bodenham said. “We have a talented workforce, loyal customers and strong supplier partners, and I look forward to working alongside all of them to build a sustainable, growing business for the long term.”
The deal also reconnects the brewer with Rich Lozyniak, a Saothair co-founder and operating partner who served as NAB’s CEO from 2009 to 2014. Lozyniak said Saothair intends to provide resources and stability as the company moves under its new ownership.
Saothair is a private-equity firm focused on middle-market manufacturing and industrial companies. Co-founder and Managing Partner Kevin Madden said the firm is committed to providing resources to support NAB.
Distribuidora La Florida CEO Rolando Carvajal said the seller evaluated multiple options before selecting Saothair, citing the firm’s brewing experience and investment approach.
Jenner & Block LLP served as legal counsel to Saothair. Sidley Austin LLP advised Heineken on legal matters, while Bank of America served as Heineken’s financial adviser.
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