Tuesday, February 24, 2009

Cheers All Around for Labatt Blue

As part of the big agreement to purchase Anhieser-Busch, InBev was required to sell off some of its other brewing interests. Way back in November 2008, InBev announced that it would sell Labatt USA to make the folks at the Department of Justice happy.

Yesterday came word that the buyer is KPS Capital Partners, a private equity firm out of New York City (what Cerbus Capital is to Chrysler) with the added bonus that the US headquarters will remain in our beloved Buffalo, NY. In what is a rare upstate-downstate partnership KPS reportedly hopes to increase the number of jobs in the company (Editor's note: this is a promise oft made to Buffalo residents. See Adelphia case study).

So, one of our favorite Canadian brews will remain safely in the hands of upstate New York - for the time being.

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