Lower middle-market private equity firm Brynwood Partners has acquired beverage manufacturer Cold Spring Brewing Co. Inc. using funds from the firm’s seventh PE fund. Financial terms of the transaction were not disclosed.
Founded in 1874, Cold Spring is an independent beverage producer serving energy drinks, craft beers and carbonated flavored waters. The Cold Spring, Minnesota-based target primarily makes non-alcoholic and alcoholic beverages for branded products and private labels of other retailers. Cold Spring also brews beer under its own branded product, called Third Street Brewhouse, sold locally in Minnesota and Wisconsin. Previously owned by the Lenore family, the target reports $60 million in net sales.