New York, NY (November 8, 2010) -- KPS Capital Partners, LP ("KPS") announced today that its portfolio company North American Breweries, Inc. (“NAB”) has completed a successful recapitalization. NAB raised $145 million of new financing, including a $25 million revolving credit facility and a $120 million term loan. The proceeds of the recapitalization were used to refinance outstanding debt, to fund a $78 million cash distribution to stockholders and to fund the Company’s continued growth.

Following the recapitalization, NAB remains conservatively capitalized and has the continued support of KPS, its majority shareholder. KPS and NAB management continue to own 100% of NAB’s common stock.

Financing for the transaction was provided by a syndicate of banks with RBS Citizens N.A. acting as sole lead arranger and joint book runner, along with JP Morgan Chase Bank N.A. acting as joint book runner. Jenner & Block LLP served as legal counsel to NAB with respect to the recapitalization.

About North American Breweries, Inc.

Headquartered in Rochester, New York, North American Breweries, Inc. is a national platform for investments and growth in the beer and malt beverage industries. Formed in 2009, North American Breweries is one of the largest independently owned beer companies in the United States. NAB manufactures, imports, markets and sells its branded product portfolio through an independent network of wholesalers throughout the U.S. NAB’s portfolio of brands includes: the Labatt brands; the Genesee brands; the Original Honey Brown Lager and Dundee Ales & Lagers; Seagram’s Escapes; Magic Hat; Pyramid; and MacTarnahan’s. NAB also performs contract brewing of beer and other alcoholic and non-alcoholic beverages on behalf of other companies. Additionally, NAB is the U.S. distributor of Imperial from Costa Rica. NAB operates four breweries across the United States, including its flagship brewery, the Genesee Brewery, in Rochester, NY, which is one of the largest and longest continually-operating breweries in the United States.

For more information about North American Breweries, please visit www.nabreweries.com.