A New York City private equity firm buys Pittsburgh’s Iron City Brewing Co.
Uni-World Capital LP bought the company’s Iron City and IC Light labels, some lesser brands and the company’s other assets for an undisclosed price from another investment group that had bought the brewery out of bankruptcy in 2007.
The brewing company is still headquartered in Pittsburgh, even though it shut down its 150-year-old city brewery and now contracts to have its beers brewed at the former Rolling Rock brewery in Latrobe, owned by City Brewing, of La Crosse, Wis.
Iron City has struggled since the company was first sold at bankruptcy auction for $31 million in 1995. Among other things, a succession of owners has had to fight efforts to shut down the brewery over unpaid water and sewerage bills.