US: Pyramid sells Thomas Kemper soda
US craft brewer Pyramid Breweries has sold its Thomas Kemper soda brand to a private-equity-backed group for US$3.1m.
The Seattle-based brewer said today (3 January) that The Kemper Co., a new company formed by Portland equity group Adventure Funds, has bought the brand.
Pyramid president and CEO Scott Barnum said the brewer would concentrate on its range of craft beers, including Pyramid Hefe Weizen and Snow Cap.
"This is a smart deal for both Pyramid Breweries and the new Kemper Company," Barnum said, adding that jobs would not be affected by the sale.
As part of the deal, Pyramid will continue to produce the Thomas Kemper range of products for five years.
Tal Johnson, managing partner at Adventure Funds, said: "Kemper has a great reputation for quality. We want to work with Pyramid to protect that, while bringing some new focus to the business and the brand."
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