Magic Hat to be Sold - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Magic Hat to be Sold

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SOUTH BURLINGTON, Vt. -

By year's end, Burlington area-based Magic Hat Brewery should have a new owner.

On Friday, its parent company North American Breweries announced it was going to be sold to a Costa Rican beverage company, Cerveceria.

Right now Magic Hat and North American Breweries is owned by an investment company called KPS Capital Partners.

The CEO of North American Breweries says the sale won't mean a lot of changes for Magic Hat.

"We're going to continue to operate all our breweries, including Magic Hat Brewery, which just can't make enough Magic Hat beer right now," says Rich Lozyniak, North American Breweries CEO.

Cerveceria has agreed to pay nearly $400-million for North American Breweries.

The companies hope the sale will be complete by the end of the year.

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