MINNEAPOLIS (WCCO) — One of the oldest beer and beverage manufacturing plants in Minnesota – and the nation – has been bought by a Connecticut-based private equity firm.

On Friday, Brynwood Partners VII announced it has acquired Cold Spring Brewing Company, Inc. from its current owner, the Lenore Family.

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The beer company was founded in 1874 in Cold Spring, Minnesota. The independent beverage manufacturer has over $60 million in net sales and employs around 350 people.

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“This marks Brynwood VII’s sixth investment in the beverage sector and is a significant investment for our firm. We look forward to supporting Cold Spring’s loyal employees and growing its operations in Cold Spring, MN, where it has resided for 143 years and plays such an important role in the community,” said Ian MacTaggart, President and COO of Brynwood Partners.

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Cold Spring Brewing is known for craft beer under the Third Street Brewhouse division, with its beer being distributed in Minnesota and Wisconsin.