USA, WI: Pabst Brewing Co. completes sale to Blue Ribbon Intermediate Holdings LLC

Pabst Brewing Co., the former Milwaukee-based brewer that began 170 years ago, has completed the sale to Blue Ribbon Intermediate Holdings LLC, for an undisclosed amount, Milwaukee Business Journal reported on November 14.

The New York Times reported in September that Los Angeles-based Metropoulos & Co., which bought Pabst in 2010 for $250 million, agreed to sell the company for $700 million to $750 million. Blue Ribbon Intermediate Holdings, a partnership between Eugene Kashper and San Francisco-based investment firm TSG Consumer Partners LLC, will continue to operate the company in Los Angeles.

Kashper, an American beer entrepreneur who started his career with The Stroh Brewery Company, will serve as the chairman and chief executive officer of Pabst. Kashper plans to relocate his family from New York to Los Angeles. He co-founded a number of beer and beverage companies, including Oasis Beverages where he served as the chairman from 2008 to 2014.

"We are thrilled to complete the acquisition of this great company," said Kashper. "I started my career with The Stroh Brewery Company, selling many of Pabst's classic brands, such as Old Milwaukee, Schaefer, Schlitz and Stroh's. In the 20 years since then, I have been selling, marketing and brewing beer - and have loved every minute of it. The opportunity to work with a timeless American brand like Pabst Blue Ribbon is a dream come true. We will stay true to Pabst's roots and are committed to investing in the company's organization and brands."

Officials with Blue Ribbon Intermediate Holdings say the company will continue its contract with MillerCoors LLC to brew the beer.

14 November, 2014