Fireman Capital Partners-owned Oscar Blues has purchased Florida-based Cigar City Brewing. The transaction, the details of which have not been disclosed, is slated to be closed within the next three months.

Following the acquisition, Cigar City will become part of the Oskar Blues Holdings board.

Fireman Capital had set up a separate holding company, called United Craft Brews, which include five craft breweries. This entity is being especially set up to acquire craft breweries.

Cigar City Brewing founder Joey Redner will continue to remain as CEO even after the closure of the the transaction.

Joey said: "Cigar City is facing next-level challenges and we needed to develop next-level skills and resources to meet them. But, we got into beer out of passion and an unwavering desire to travel our own path.

"Florida craft beer drinkers want something they can proudly stand behind. These guys get that."

Owning majority stakes in Oskar Blues, Perrin Brewing and the Utah Brewers Cooperative association which includes Wasatch and Squatters brands, Fireman Capital following the latest acquisition plans to bolster its position in the craft beer sector.

Al the five firms together have generated more than 320,000 barrels in 2015. Besides its presence in Utah, the group has foothold in Colorado, North Carolina, Michigan and Texas.

Oskar Blues spokesman Chad Melis said: "I think the goal is to be able to provide additional resources — financially and experience-wise – and create a collaborative environment where breweries can keep their culture."