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[XiaNaphryz]

http://dealbook.nytimes.com/2014/09/18/pabst-is-said-to-near-a-sale/

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.

The buyer is Oasis Beverages, a Russian brewer and beverages distributor. Backing Oasis is TSG Consumer Partners, an American private equity firm focused on consumer goods, which will take a minority stake.

“Pabst Blue Ribbon is the quintessential American brand – it represents individualism, egalitarianism and freedom of expression – all the things that make this country great,” Eugene Kashper, the chairman of Oasis Beverages, said in a statement. “The opportunity to work with the company’s treasure trove of iconic brands, some of which I started my career selling, is a dream come true. It will be an honor to work with Pabst’s dedicated employees and partner distributors as we continue to build the business.”

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.

Oasis is the biggest independent brewer in Russia, producing a variety of regional brands. It also distributes some big international brands like Heineken in Russia and Eastern Europe.

TSG, with offices in San Francisco and New York, has owned stakes in food and beverage companies including Popchips, Vitaminwater and Muscle Milk over the years.

The deal comes as the beer industry braces for more deals. On Sunday, Heineken said it rejected an offer from SABMiller that would have been worth $50 billion or more. Though that deal may not get done, the offer has revived speculation about more consolidation in the beer business.

 

[TheKaeptain]

Well hipsters are commies so this makes sense.

 

[DirtyManos]

I had a good laugh hearing Brian Williams use the word hipsters to describe PBR last night when I heard about this.

 

[DizzyCaffeine]

Can't I just love an ice cold PBR without being a dirty hipster or alcoholic?

 

[Magilla]

Can't I just love an ice cold PBR without being a dirty hipster or alcoholic?

Yes, No.

 

[Max Armstrong]

This is how they start to impurify all of our precious bodily fluids.

 

[DizzyCaffeine]

Yes, No.

I can stop whenever I want.

 

[Bodacious]

Frank Booth is gonna be mightily pissed.

 

[Paskil]

All them Pabst and Old Mil drinkers are stinkin' commies.

 

[AMUSIX]

This is how they start to impurify all of our precious bodily fluids.

 

[kess]

Pabst was the inheritor of a rather large portfolio of regional beers, which were, at various stages, converted into bargain basement macro mash.

The Russians can't do any worse-- their portfolio would be gold if someone really cared.

(EDIT: Pabst has recently been trying to resurrect the original recipes of Schlitz and Ballantine IPA on a small scale, so at least someone's thinking about it.)

 

[reggieandTFE]

I ordered a PBR at a bar in New Orleans and the bartender asked me if I was from Chicago. I was kind of stunned since I am.

 

[A Fish Aficionado]

Pbr is the best of low quality american beers.

 

[Phobophile]

Pbr is the best of low quality american beers.

I'd rather drink Old Style or Genesee Cream Ale.

 

[Stinkles]

Pabst is actually much better tasting than Bud etc. But I have a serious question about shitty American beer that I have never gotten a satisfactory answer to.

Why do scumbags drink Coors? Every time somebody has gotten wasted in a car and left their beer trash on the sidewalk, it's Coors. Every time I see bottles tossed from moving vehicles (and let's be clear, trucks) it's Coors.


Why?

Coors has almost no alcohol, like Bud and Miller, and it tastes almost like water. It isn't cheaper than other garbage beers. So what's the appeal to racist DUI litterbugs?

Japan and Mexico both do a way better job at drinkable lager-esque cheap beers. ours are pretty embarrassing tbh. And Miller gives me a headache almost immediately, so chock full of chemicals it is.

 

[Count of Monte Sawed-Off]

Doesn't matter. The price of PBR has been driven up by unexpected demand. I can't get a tall boy for 75 cents anymore.

 

[speculawyer]

Frank Booth is gonna be mightily pissed.

This was my response as well.

 

[UrokeJoe]

The global life.

 

[Mush]

I've never seen a can of the stuff in my entire life.

 

[speculawyer]

This is how they start to impurify all of our precious bodily fluids.

Purity Of Essence

 

[smokeandmirrors]

Pbr is the best of low quality american beers.

agreed

fuck coors or bud light

 

[overcast]

Just had this and rolling rock (twice on the rolling) over the weekend at parties. Out of a keg they both taste better, but PBR is way better than the shite that is rolling rock, coors, miller.

High Life the champ cheap beer.

 

[Count of Monte Sawed-Off]

And anyway, there's still Schlitz.

 

[AlphaSnake]

I always thought Pabst was made by Pillsbury for the longest fucking time...LOL

Anyways, it's a shit beer. I'll stick to vodka.

Then again, I am Russian. :|

 

[Chichikov]

Frank Booth is gonna be mightily pissed.

Fun fact: I only knew PBR from that movie for the first twenty something years of my life.
I was giddy with excitement when I moved to the states and saw it in a kegger, needless to say I was rather disappointed.

Can't I just love an ice cold PBR without being a dirty hipster or alcoholic?

Of course you can, but in my opinion, there are much better cheap beer options in the states.
We used to do a 50 cents can blind tasting parties, where you buy a whole bunch of cheap beer, cover the labels, and people drink and rank them (yeah, remember when you could get a PBR for 50 cents? good times).
PBR routinely came next to the bottom, but as always, your mileage may vary.

 

[UrokeJoe]

Pabst has always been shit and been around forever while being shit, but caught a wave being shit. Fuck this shit!

Sell your mother, sell your grandfather, sell everything, ....Just get your shit!

 

[BUNTING1243]

What will become of the millions of ironic alcoholics across our nation's liberal art campuses?

 

[xbhaskarx]

They should change the name from Pabst Blue Ribbon to Pabst Red Star

 

[Wubby]

Kind of amusing that Minecraft is worth 3x more than PBR.

 

[DonasaurusRex]

piss is worth so much? well at least it will stay cold in russia.

 

[Technosteve]

I love pbr ice cold after work, such a drinkable beer.

 

[CreepingFear]

Shit tastes like piss/ass, but it gets your drunk for cheap. Not everyone can afford $10 per bottle craft beers and shit.

 

[James Woods]

I'd rather drink Natty Ice.

 

[Chichikov]

Shit tastes like piss/ass, but it gets your drunk for cheap. Not everyone can afford $10 per bottle craft beers and shit.

There's a whole lot of cheap beer options in the states, and PBR ain't that cheap no more anyway.

 

[GK86]

The Russian invasion begins.

 

[NYCmetsfan]

fuck coors or bud light

mostly the first. I hate beer snobs (unless its the basic lite vs heavy kind) but jeez is coors absolute trash. detest it.

There's a whole lot of cheap beer options in the states, and PBR ain't that cheap no more anyway.

yes it is. Its almost always in the cheapest or next to cheapest. Its a bit above the steal reserve, high life, natty range its usally priced higher (its 2 for 3.00 for tall boys here while the first are 2 for 2) but some places still sell it for less.

In bars, your're right, hipsters have jacked up its price (in nicer bars mind you) and bars are loving it.

 

[CreepingFear]

There's a whole lot of cheap beer options in the states, and PBR ain't that cheap no more anyway.

Admittedly, I think it was two years since I've had Pabst Blue in a bar on tap. Now that you mentioned it, I did hear of price hikes. I'm more of a hard liquor guy anyways, whiskey, vodka.

 

[Chichikov]

yes it is. Its almost always in the cheapest or next to cheapest. Its a bit above the steal reserve, high life, natty range its usally priced higher (its 2 for 3.00 for tall boys here while the first are 2 for 2) but some places still sell it for less.

In bars, your're right, hipsters have jacked up its price (in nicer bars mind you) and bars are loving it.

I guess it could depend on the market, but in Seattle (and IIRC in the west coast in general), there a whole lot of equally cheap or cheaper beers (it depends a lot on the quantity you buy).
Many of them are better in my opinion.

 

[NYCmetsfan]

I guess it could depend on the market, but in Seattle (and IIRC in the west coast in general), there a whole lot of equally cheap or cheaper beers (it depends a lot on the quantity you buy).
Many of them are better in my opinion.

I've only lived in the south and northeast so I'm judging from there.

 

[Escape Goat]

All them Pabst and Old Mil drinkers are stinkin' commies.

If you arent drinking sam adams youre a goddamn traitor.

 

[speculawyer]

The Russian invasion begins.

GK86
Homeland Security Fail
(Today, 10:17 PM)

Don't worry. I have the perfect beer weapon to fight back with:

 

[pinsomniac]

Kind of amusing that Minecraft is worth 3x more than PBR.

That Heineken figure was more surprising. $50bn+?

 

[Hunter S.]

So is it getting cheaper or more expensive? Quite honestly the guy from Oasis is hilarious.

 

[ComputerMKII]

Well hipsters are commies so this makes sense.

A xenophobic joke? Really?