Altered names
Finally the Genesee Brewing Co. from Rochester, New York, finished their management buy-out. Eight former employees acquired the brewery at a price of USD 25.8 million, USD 14.8 million of which in cash. Although the new enterprise will sign as High Falls Brewing Company the Genesee brand is not intended to disappear from the market. The brand will be shown on every label, except from those of the new beer specialities. These will enter the market under the brand name High Falls.
The Pabst Brewing Co. had offered to acquire some of the Genesee beer brands in order to have them brewed somewhere else but that would have implied the closing of the Genesee brewery and the loss of 450 jobs. The new owners already announced to spend USD 3.9 million hectolitres and sales of USD 103.3 million.
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