Pabst Is Sold to Russian Beverage Company

[dmcowen674]

9-19-2014

http://finance.yahoo.com/news/pabst-sold-russian-beverage-company-195910431.html

Pabst Is Sold to Russian Beverage Company



A Russian beverage company said on Thursday that it was acquiring the Pabst Brewing Company, which makes the Pabst Blue Ribbon beer popular with barflies and hipsters alike and other brands like Colt 45 and Old Milwaukee.

The company did not disclose terms of the transaction, but people briefed on the matter said the price was more than $700 million in cash.

Pabst has been owned by Dean Metropoulos, the consumer products magnate who recently took over the Twinkie line of products from Hostess Brands with private equity firm Apollo.


Mr. Metropoulos acquired Pabst in 2010 for about $250 million, and the sale to Oasis and TSG will be a healthy return on his investment. Since taking Pabst over, Mr. Metropoulos has turned management of the company over to his sons, Evan and Daren, who have served as co-chief executives. They are expected to step down after a sale.

 

[dmcowen674]

It's all about the rich getting richer, screw American History and Heritage.

 

[Karl Agathon]

Doesn't a German company own Budweiser? Correction: A Belgian brewer.

 

[Matt1970]

No loss here, that stuff is pig piss. There is a reason that stuff is always 30% cheaper than real beer.

 

[Londo_Jowo]

PBR is the breakfast of rednecks and backwoods hicks

 

[MongGrel]

I don't know, I thought Yuengling was actually the last American owned brewery these days anyhow, got me.

Always seemed odd, to me considering the name.

I still would get PBR now and then even before it became a hipster thing.

My dad used to get it in the 70's, was one of the first beers I tried, stealing one now and then

A friend of mine's dad bought Blatz back then, we actually grabbed a 6 pack of that once that was warm and never went back, he he.

 

[MongGrel]

PBR is the breakfast of rednecks and backwoods hicks

Personally I prefer PBR over Budweiser any day, even Rolling Rock myself over Bud.

*shrug*

But I'm a Miller Lite fan still myself I guess.

 

[werepossum]

I'm sure there are literally dozens of PBR fans who are heart-broken.

 

[cubby1223]

Question: why did no American want to purchase Pabst?

 

[cubby1223]

That article does clearly state $700m is arriving into the U.S. from Russia.

 

[Kadarin]

Great, now even Russian hipsters can enjoy some (not very) tasty PBR. Like this clown, who probably liked it before it was popular:

 

[Genx87]

Apparently Russia wants to upgrade the quality of their beer. I dont think many care here however. That stuff is terrible. We call it PissAssBST. And was so bad we couldnt even bring ourselves to steal one at a family get together.

 

[zinfamous]

I'm sure there are literally dozens of PBR fans who are heart-broken.

Well, I can say for a fact that I once knew a guy that would certainly be heartbroken about this.

roommate of a friend in college, dude was a huge Pabst fan. Huge. Not a hipster at all, just some good 'ol boy that effing loved Pabst. He had hats, would tell you about PBR history and was quite upset, at the time, about rumors that Pabst was either going to shutter or get sold to AB.

There are fans of many things in life, but this is the only person I have ever met that was a fan of one type of beer. And PBR, no less. This was well before the hipsters knew PBR existed. So it wasn't like he was into it to be cool. He actually loved the stuff in a non-ironic way.

 

[werepossum]

Well, I can say for a fact that I once knew a guy that would certainly be heartbroken about this.

roommate of a friend in college, dude was a huge Pabst fan. Huge. Not a hipster at all, just some good 'ol boy that effing loved Pabst. He had hats, would tell you about PBR history and was quite upset, at the time, about rumors that Pabst was either going to shutter or get sold to AB.

There are fans of many things in life, but this is the only person I have ever met that was a fan of one type of beer. And PBR, no less. This was well before the hipsters knew PBR existed. So it wasn't like he was into it to be cool. He actually loved the stuff in a non-ironic way.

Wow. I hate all beer, but no beer drinker I've ever known has considered PBR anything other than cheap skunk beer good only for getting drunk when one is short of funds. I guess there really is always one.

 

[werepossum]

Great, now even Russian hipsters can enjoy some (not very) tasty PBR. Like this clown, who probably liked it before it was popular:

Pretty sure he only drinks blood and tears.

Cool Devo sunglasses though.

 

[smackababy]

I guess it will be Pabst Red Ribbon now right?

 

[MtnMan]

No loss here, that stuff is pig piss. There is a reason that stuff is always 30% cheaper than real beer.

That is an insult to pigs.

The largest brewery I every buy a beer from is Sam Adams, and I support the 17 craft breweries within 10 miles of my house for 95% of my brews.

 

[KillerBee]

I guess it will be Pabst Red Ribbon now right?

lol
ba dum TISH


Glad to see it still being made - at least our Russian bros know what a fine outstanding beer it is

 

[cubby1223]

That is an insult to pigs.

The largest brewery I every buy a beer from is Sam Adams, and I support the 17 craft breweries within 10 miles of my house for 95% of my brews.

I support the local breweries around me too.

Too bad I only support them to the tune of maybe $100 per brewery per year.

That's why Pabst is still everywhere. Other people support them far more than I support local breweries

 

[werepossum]

Hah! You guys are amateurs. I'm so sophisticated and selective that I support no breweries.

 

[zinfamous]

Wow. I hate all beer, but no beer drinker I've ever known has considered PBR anything other than cheap skunk beer good only for getting drunk when one is short of funds. I guess there really is always one.

what are you , a fascist?

 

[Pipeline 1010]

PBR is the breakfast of rednecks and backwoods hicks

And hipsters in Seattle. You forgot hipsters in Seattle.

 

[dmcowen674]

Question: why did no American want to purchase Pabst?

Exactly, all those American Billionaires just recently listed and a bunch of them in New York and none step up.

They are all piece of crap traitors to this country which is why I always say good riddance, they should all move to other countries and give up their U.S. citizenship that they don't give a crap about other than suck all the money out of the country anyway.

 

[dmcowen674]

I guess it will be Pabst Red Ribbon now right?

I used to drink Bud before it sold to InBev overseas. Have not had once since.

Used to drink Pabst especially when bowling.

Now they won't get a dime from me either.

Sam Adams is American but hard to find, not many bars carry it.

I really do put my mouth where my money is unlike the traitors on here.

 

[lamedude]