Verus Investment Partners (“Verus”), a private equity firm, said it sold its portfolio company, Pittsburgh Brewing Co. (“PBC”). Neither the buyer nor terms were released, and Verus didn’t immediately return our call.
Founded in 1861 and headquartered in Pittsburgh, PBC produces several well-known brands of beer including Iron City, IC Light, American, Old German, and Block House. During the brewery’s 150-year history, it has introduced many innovations such as the first twist-off cap, the first snap-top can and the nation’s first light beer. While primarily distributed in Pennsylvania and nearby states, the company’s beers have developed a loyal following around the nation.