Private equity firm Saothair Capital Partners has acquired CCR American Holdings, which operated as FIFCO USA, from Distribuidora La Florida, a subsidiary of Heineken. Following the completion of the transaction, the Rochester, New York-based beverage company is returning to its former North American Breweries (NAB) name. Financial terms were not disclosed.
At the heart of NAB is the Genesee Brewery in Rochester, one of the oldest continuously operating breweries in the United States. The company employs more than 700 people and brews, packages, markets, and sells beer and ready-to-drink beverages through an independent wholesale network. Its portfolio highlighted in the acquisition announcement includes Labatt, Genesee, Seagram's Escapes, Lipton Hard Iced Tea, and Bubly Wine Refresher. NAB is also a major U.S. provider of contract brewing and beverage manufacturing for third-party brands.
The production operation has changed substantially since NAB was last under private equity ownership. According to Rochester Beacon, more than USD 200 million has been invested in the Rochester site since Florida Ice and Farm Company (FIFCO) acquired the business in 2012. The modernization includes a new brewhouse, fermentation tanks and filters, a dedicated cold block, and a high-speed canning line capable of filling around 1,500 cans per minute. Contract manufacturing has also become increasingly important and now accounts for roughly a quarter of production, broadening the operation beyond its traditional beer brands.
The change in ownership also brings back two executives with longstanding ties to the business. Peter Bodenham has been appointed Chief Executive Officer of NAB. He previously worked in senior marketing positions at NAB and its predecessor from 2007 to 2014, including as Vice President of Marketing from 2009 to 2014, before continuing his career with Sleeman Breweries. Rich Lozyniak, Co-founder and Operating Partner of Saothair Capital Partners, was NAB's CEO from its formation in 2009 until 2014 and will now support Bodenham and the management team under the new ownership.
The revived company name has its origins in the previous private equity ownership of the brewery. KPS Capital Partners formed North American Breweries in 2009 around the former High Falls Brewing operation in Rochester and Labatt USA. In 2010, NAB expanded through the acquisition of Independent Brewers United, adding businesses including Magic Hat and Pyramid. In 2012, FIFCO acquired NAB for USD 388 million. The U.S. operation was subsequently renamed FIFCO USA in 2018.
The latest sale is also the final step in separating the U.S. brewing business from FIFCO's former Central American operations. In September 2025, Heineken agreed to acquire the remaining 75% of Distribuidora La Florida and other FIFCO beverage assets in a transaction valued at approximately USD 3.2 billion. At the time, Heineken made clear that strategic alternatives were being explored for FIFCO USA rather than positioning the American business as part of its long-term U.S. strategy.
Heineken completed the broader FIFCO transaction on January 30, 2026, gaining full ownership of Distribuidora La Florida (inside.beer, 30.01.2026). As CCR American Holdings was held through Distribuidora La Florida, the U.S. company temporarily came under Heineken ownership before its sale to Saothair.
Saothair says it intends to provide NAB with resources for long-term growth and continue investing in both the Genesee Brewery and its brands. The acquisition therefore reunites the North American Breweries name with executives who helped build the company during its first private equity era, but this time around they are taking control of a considerably more diversified and modern beverage manufacturing operation.
