Brewbound reports that Tampa, Florida’s, Cigar City Brewing has agreed to sell a controlling interest to Boston-based private equity firm Fireman Capital Partners, which already owns majority stakes in Oskar Blues, Perrin Brewing, and the Utah Brewers Cooperative outfit that includes the Wasatch and Squatters brands.
Together, the five craft breweries make up what the firm calls United Craft Brews LLC, a holding company and special purpose fund set up specifically for craft brewery acquisitions.
Terms of the deal were not disclosed and the transaction is expected to close within the next 90 days, executives from both companies told Brewbound.
The five companies now housed under United Craft Brew LLC make the consortium a major player in the craft beer world, having collectively produced more than 320,000 barrels in 2015 and ranking as a top-15 craft producer.
Big news: https://t.co/3YW0V70P17
— Cigar City Brewing (@CigarCityBeer) March 14, 2016
The merger gives Cigar City access to Fireman Capital’s financial resources as well as potential brewing capacity at Oskar Blues’ facilities in Longmont, Colorado, Brevard, North Carolina, and a third, yet to open brewery in Austin, Texas.