Wachusett Brewing purchased by Smuttynose Owner Runnymede Investments
January 20, 2024 – Private Equity firm Runnymede Investments announced this week that they have reached an agreement to acquire Massachusetts brewer Wachusett Brewing Company through their brewing arm Finestkind Brewing LLC.
The subsidiary, which was formed in 2018 when Runnymede purchased Smuttynose Brewing Company after they had been sold in a bankruptcy auction, has also recently acquired Five Boroughs Brewing in New York City. That deal was announced in November.
Wachusett was founded in 1994 in Westminster, Massachusetts by former classmates Ned LaFortune, Peter Quinn, and Kevin Buckle. In 2020, the owners sold a stake of the company to a group led by Brett Williams, who had previously owned Woodchuck Hard Cider before selling it to C&C Group for $305 million.
“Wachusett, a brand with 30 years of history, is not only a local leader in the fruit beer category, but their addition significantly diversifies our portfolio,” said Steve Kierstead, CEO of Finestkind. The deal is expected to close later this year.