Tully & Holland Announces the Sale of Independent Brewers United, Inc. to North American Breweries, Inc.
August 19, 2010 - Wellesley, MA Tully & Holland, Inc. is pleased to announce the successful completion of the sale of Independent Brewers United, Inc., Burlington, VT to North American Breweries, Inc., Rochester, NY. Tully & Holland acted as the exclusive investment banking advisor to the seller's majority shareholder. The terms of the transaction were not disclosed.
IBU, one of the largest craft beer producers in the US, markets and sells Magic Hat, Pyramid, and MacTarnahan's beers and ales. Based in Burlington, VT, IBU's specialty craft beers are sold on both the East and West Coasts operating out of three state-of-the art breweries and six retail locations. Magic Hat has been one of the fastest growing beers within the craft beer segment as a result of increased consumer demand for specialty beers.
The largest independently-owned beer company in the US, North American Breweries (NAB), has grown through strategic acquisitions during recent years. Labatt USA and Genesee Brewing Company were acquired by NAB in 2009. The acquisition of IBU's craft brands is a strong strategic fit for NAB and will expand the company's presence in the rapidly growing craft beer segment, particularly on the West Coast.