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Report: KPS Capital Bidding for Labatt USA

NEW YORK (Reuters) – Private equity firm KPS Capital Partners is among the final bidders for Anheuser-Busch InBev’s (INTB.BR) Labatt USA unit, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

InBev reached a deal with U.S. anti-trust regulators last year to sell the Labatt USA business and associated licenses in order to close its takeover of Anheuser Busch.

A deal for Labatt USA, which imports Labatt Blue and other brands from Canada and also owns the Rolling Rock brand, could be worth around $100 million, according to the Journal. The newspaper reported that C2 Imports LLC, a beer importer run by a former Anheuser Busch executive, is also bidding.

KPS is also near a deal to buy High Falls Brewing Co., a privately held brewer of the Genesee and Dundee brands, the newspaper said, citing a source close to the matter.

It would acquire High Falls in exchange for taking on High Falls’ debt, the source said.

High Falls declined to comment on the matter. KPS and InBec could not be immediately reached for comment. (Reporting by Michael Erman; Editing by Valerie Lee)