$250 Million for Pabst
I’m not talking about just one can of PBR; I’m talking about the whole thing. Yup, Pabst has been sold.
It’s actually been on the auction blog for sometime now. It turns out that the previous owner, a non-profit, was violating a few rule by, you know, making a profit from the beer company. So, they were told that they had to find a buyer and unload it.
It took them a while but finally investor C. Dean Metropoulos made the right offer. Never heard of Metropoulos? How about Chef Boyardee, Duncan Hines or Ghirardelli Chocolates? He’s been behind them, too. So, he’s not a beer guy; he’s a food guy so I suppose that’s something.
Pabst isn’t the only brand included in the deal. He’s also getting Schlitz, Old Style, Lone Star and Colt 45 - a line up of nostalgic beer brands. In all, this company is the country’s fifth largest beer seller. And that’s without owning even one brewery. Actually, Metropoulos isn’t getting much more than the brands.
The last actual Pabst brewery closed years ago. All of the beer brewed for this label during this recent revival of the brand, popular with classic beer brand lovers and hipsters, has actually been brewed by MillerCoors under contract with Pabst.
Colt 45 Lone Star Old Style pabst schlitzFiled under: Beer on May 27th, 2010 | No Comments »
