![]() ![]() The company primarily manufactures products, both non-alcoholic and alcoholic beverages and beer, for other companies’ proprietary brands and retailers’ private labels. Located in Cold Spring, MN, Cold Spring is a leading beverage manufacturer that produces energy drinks, carbonated flavored waters and brews craft beers. Terms and conditions of the transaction were not disclosed. (“Cold Spring”) from its current owner, the Lenore family. (“Brynwood VII”) announced today that it has acquired Cold Spring Brewing Company, Inc. 4, 2017 /PRNewswire/ - Brynwood Partners VII L.P. ![]() Acquires Cold Spring Brewing Company, Inc. “If an opportunity to add other assets around the country presented itself, we could do a rollup in that space,” he said.Ī press release with additional information is included below.īrynwood Partners VII L.P. Margve said the firm typically maintains its consumer products investments for five-to-seven years, but that it would “hold on to them longer if the need dictates.”Ĭold Spring is the sixth beverage investment Brynwood has made, and Margve said the company is considering more. “There has been some interest and we have the capability to do that,” he said.Īccording to the release, Brynwood manages “more than $725 million of private equity capital” for its limited partners, which include pension funds, endowments as well as high net worth family offices and financial institutions. Once those capital improvements are complete, Brynwood could venture into the private label craft beer space, Margve said, noting that the firm already has “strong relationships with retailers,” and that many have expressed a desire to develop proprietary offerings. The Third Street Brewhouse is currently capable of producing about 180,000 barrels, he said, and the Cold Spring facility can push out about 19 million cases of product each year. Margve said Brynwood is investing “quite a bit of capital” into facility upgrades at Cold Spring that will boost brewing capacity by 70 percent and double the company’s warehouse space. “We don’t have any products that are merchandized in cans, and that is pretty intriguing - there could be some opportunity for Juicy Juice or one of our other brands at Cold Spring.” “We have a history of leveraging our portfolio companies across their various capabilities,” Margve said. The firm, via the Harvest Hill Beverage Company venture, already operates eight manufacturing facilities throughout the U.S., and the Cold Spring acquisition is aimed at strengthening the company’s position as a contract beverage manufacturer. The Cold Spring purchase is part of the company’s seventh, $420 million fund – Brynwood Partners VII L.P - which includes investments in Juicy Juice, Sunny Delight and Daily’s Cocktails, which are anchored under the Harvest Hill Beverage Company rollup. Four of those funds are still active, according to its website. According to Margve, Cold Spring’s beer division is “growing double-digits” but is a “smaller piece of the overall business.”īrynwood, which describes itself as a “lower middle market buyout fund that acquires consumer products companies,” has raised over $1.1 billion across seven funds since it was founded in 1984. ![]() In a press release, Brynwood said Cold Spring generates more than $60 million in revenue annually and employs 350 people. ![]()
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