Financial details of the deal were not disclosed.
Following completion of the deal the company will revert to its former name of North American Breweries (NAB) to “better align the company’s identity with the deep regional heritage of its brand portfolio.”
Headquartered in Rochester, New York, NAB produces and markets a range of alcoholic beverages which include Labatt, Genesee, Seagram’s Escapes, Lipton Hard Iced Tea and Bubly Wine Refresher.
The company distributes its brands through an independent network of wholesalers and is also one of the largest US providers of full-service contract brewing for beer and other alcoholic beverages.
NAB operates out of the Genesee Brewery and has over 700 employees. The facility includes a new brewhouse, new filters and fermentation tanks, a dedicated cold block facility for fermenting and finishing and a state-of-the-art high-speed canning line.
Peter Bodenham will join the company as Chief Executive Officer, bringing over 25 years of experience in executive commercial roles across InBev, NAB and Sleeman Breweries.
Bodenham said: “This is a business with an extraordinary legacy and deep regional roots, and I see real opportunity ahead. We will continue to invest in the Genesee Brewery and the brands that define this portfolio. 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.”
While Kevin Madden, Co-founder and Managing Partner at Saothair, said: “We’re grateful to Heineken for making this opportunity possible, and we’re excited to be a part of the future of the company. Saothair is committed to providing the resources needed to make NAB a success.”
