US-based private equity firm SunTx Capital Partners has announced the sale of its Carolina Beverage Group to Brynwood Partners for an undisclosed sum.

Founded in 1997, Carolina Beverage Group produces speciality-sized cans and packaging to a wide range of beverage manufacturers including energy drink, tea, sparkling water, distilled beverages, wine, and other ready-to-drink products.

Carolina Beverage Group president and CEO Andy Kerner said: “SunTx has been a valuable partner and resource provider during their stewardship. Their strategic vision for Carolina Beverage Group was spot on and their commitment to achieving our mutual goals never wavered.

“The company looks forward to its next stage of growth, in partnership with Cold Spring Brewing Company and Brynwood Partners.”

“The company looks forward to its next stage of growth, in partnership with Cold Spring Brewing Company and Brynwood Partners.”

As a majority stakeholder, SunTx worked with the management team of Carolina Beverage Group and made significant investments to build manufacturing and distribution facility in Fort Worth, Texas.

Carolina Beverage Group has locations in both the Southeast and Southwest and offers a range of beverage manufacturing capabilities, laboratory and quality systems, flexible manufacturing processes and warehouse management systems to these regions.

SunTx Capital Partners founder and managing partner Ned N Fleming III said: “We made a majority ownership investment in a North Carolina-based beverage business that had a good portfolio and strong customer relationships.

“We knew that the functional beverage industry was poised for accelerated growth and believed that Carolina Beverage Group could become a leading platform in the space.”