Pabst Brewing Co. Purchased by Russian Beverage Distributor
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Photo by Tommaso Boddi/Getty Images(NEW YORK) — Pabst Brewing Co., the brewer of popular American beer Pabst Blue Ribbon, among other offerings, has been acquired by Russian beverage distributor Oasis Beverages, as announced in a Thursday press release.
Oasis Beverages and private-equity firm TSG Consumer Partners partnered to acquire the brand. The Wall Street Journal reports that that deal values Pabst Brewing Co. as between $700 million and $750 million.
Eugene Kashper, Chairman of the Board for Oasis Beverages, will serve as the CEO of Pabst Brewing Company, and the headquarters will remain in Los Angeles, California.
Kashper called Pabst Blue Ribbon “the quintessential American brand.”
“It represents individualism, egalitarianism, and freedom of expression — all the things that make this country great,” Kashper said in a statement.
Pabst Brewing Company also produces other American brands, including Rainier, Lone Star, Old Style, Schlitz and National Bohemian.
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