Good news for lovers of local beer
Looks like our local brewery, High Falls (formerly Genesee) is soon to be purchased by KPS Capital Partners. From channel 10 News:
High Falls would not confirm this but an industry source who is familiar with this told News 10NBC it’s a good thing. It would allow most rank and file workers to keep their jobs - 400 people work at High Falls in Rochester.It would also allow High Falls to grow and take its operation to the next level. It’s no secret High Falls has had money problems. In 2007 it worked out a deal with the city and the county to settle $10-million dollars in back taxes and water and sewer charges.
[snip]
According to the Wall Street Journal, KPS has acquired High Falls senior debt and acquisition of the company itself could happen in the next few weeks. Another piece of this, according to the Journal, KPS is also trying to buy Labatt USA, based in Buffalo. If that happens, the speculation is Labatt’s could be brewed in Rochester.
Currently, High Falls is owned by group of local, former employees who bought the company in 2000 when it was Genesee Corporation.
In our current, stressful economic environment, this seems like a blessing. 400 people keeping their jobs. I’ll drink to that.
Related posts:
This deal will most likely also benefit Labatt Blue drinkers in the area. The firm buying High Falls is also buying the rights to sell/market and possibly brew Labatt Blue in the US. High Falls has a lot of excess capacity and that could help to fill it and possibly even give more people jobs. It will also extend the reach of High Falls products as they will likely be packaged in distribution deals with Labatt Products.