Rochester, N.Y.- The owner of the Genesee Brewing company has been sold to another beer company for $388 million.
North American Breweries was sold to Cerveceria Costa Rica ("CCR"), which is a subsidiary of Florida Ice and Farm Company.
The CEO of North American Breweries says the Genesee Brewing Company will remain open and they will continue to produce the same beer. He also added that the sale will not impact local jobs and this is good news for the future of the brewery.
KPS Capital Partners, a New York City investment firm, formed North American Breweries in 2009.