VENERABLE BEER ICON PABST BREWERY was recently purchased by a private investor from the charitable trust that had temporary stewardship of the label. A press release issued Friday says, Metropoulos & Co., a leading investor in and manager of branded consumer products, today announced that it has acquired Pabst Brewing Company, North America’s largest privately held brewing company. Financial terms of the transaction were not disclosed, but industry insiders say that it went for about $250 million.
Pabst Brewing Company has been in business since 1844. The company produces several of America’s best-known brand labels, including the award-winning Pabst Blue Ribbon, Old Milwaukee, Lone Star, Colt 45, Old Style, Blatz, Stroh’s, Rainier, and Schlitz. Headquartered in Woodridge, Illinois with offices in Milwaukee and San Antonio, Pabst generates annual sales in excess of $500 million.
Bloomberg Business Report filed this video report that includes an interview with Dean Metropoulis, the new owner:
In the middle of the twentieth century, Pabst was the largest brewer in the world. After several decades of multi-brand mergers among the major labels, Pabst slipped to 5th place in sales in the U. S. Recently there has a been a resurgence in the Blue Ribbon brand’s popularity, notably on college campuses around the country. In the last few years PBR has been the fastest-growing brand of all domestic labels.
For the past 15 years Pabst has not operated any breweries of its own, instead the brands have been “contract” brewed at other breweries.
Read the Firegeezer video report on the re-introduction of the Schlitz brand by Pabst in this December 2007 story HERE.