Cigar City bought by PE Firm.
Oskar Blues, the Longmont, CO, brewery that is backed by Fireman Capital Partners, a Boston-based private equity firm, is purchasing a majority stake in Cigar City Brewing Co. of Tampa, FL.
"The goal is to be able to provide additional resources--financially and experience-wise--and create a collaborative environment where breweries can keep their culture," Oskar Blues spokesman Chad Melis told the Denver Post.
Fireman's holding company, United Craft Brews LLC, holds stakes in Oskar Blues, Perrin Brewing and the Utah Brewers Cooperative. Cigar City produced 55,000 bbls in 2015. Analysts posited that the deal might be worth $60 million, but terms were not disclosed.