Dallas-based private equity firm SunTx Capital Partners has sold Carolina Beverage Group to Brynwood Partners. Financial terms of the transaction were not disclosed.
Carolina Beverage has a state-of-the-art manufacturing and distribution facility in Fort Worth.
Founded in 1997, Carolina Beverage Group began as a brewer of high-end craft beers but has since morphed into a premier manufacturer of national and international beverage brands. With an emphasis on high-quality contract beverage manufacturing in specialty-sized cans and packaging, Carolina’s customers include well-known world-class energy drink, tea, sparkling water, distilled beverage, wine, malt beverage and other functional and ready-to-drink beverage brands.
SunTx acquired a majority interest in Carolina Beverage Group and worked with the management team to execute a series of transformational growth and operational initiatives, including a multimillion dollar investment in the Fort Worth facility.
In 2013, the City of Fort Worth voted to give the company a tax abatement for the new plant valued at about $2.4 million and creating 225 new full-time jobs.
Brynwood Partners VII L.P.’s and Brynwood Partners VIII L.P.’s wholly-owned portfolio company, Cold Spring Brewing Company acquir3ed 100 percent of the stock of Carolina Beverage Group and the combined company is being named Carolina Beverage Group. It will be headquartered in the Charlotte, NC area. By combining Cold Spring and Carolina Beverage Group, Greenwich, Connecticut-based Brynwood says it has created one of the largest independently-owned contract manufacturers in the beverage sector for numerous well-known national and international brands.
With over 650,000 sq. ft. of flexible manufacturing space and 1.7 million sq. ft. of warehouse availability, the company offers a broad range of value-added production services in a variety of packaging options, including plastic and aluminum cans and glass bottles.