Imported Lagers

Mooresville’s Carolina Beer & Beverage has been sold to a Texas equity investment firm, SunTx Capital Partners, the companies announced Tuesday.

Financial terms of the deal were not disclosed, but SunTx acquired a majority interest in the company.

Founded in 1997 by J. Michael Smith and John Stritch, Carolina Beer & Beverage got its start when the duo acquired the rights and formula to the Carolina Blonde and Cottonwood Ales beer brands.

Today the business also produces energy drinks.

In a press release, SunTx said Smith will continue as CEO of the company.

“We are very excited about this partnership with SunTx Capital, which has a long track record of growing businesses, while building value and creating attractive opportunities for employees,” Smith said.

“With SunTx as our strategic partner, we feel that we can take advantage of the numerous opportunities to grow.  We believe that our existing customer and supplier relationships, efficient manufacturing capabilities and experienced management team will enable us to continue our superior historical performance and margin growth.”

Ned Fleming, Managing Partner of SunTx Capital, said, “We are very excited about the future of CBB…

“The functional beverage industry is the highest-growth segment of the beverage industry and we believe CBB is well positioned, through its attractive portfolio of strong customer relationships and continued focus on operational excellence, to capture increased market share and recognize substantial upside.”

In addition to producing beer and energy drinks, Carolina Beer & Beverage is a co-packer of specialty-sized cans, specialty plastic bottles and glass bottles.