Na zdorovye, Pabst! Russian brewing company buys iconic American beer label

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Almost in the same All-American league as baseball, hot dogs, apple pie and Chevrolet, Pabst Blue Ribbon beer will now be in the hands of a Russian brewer.

Oasis Beverages, which did not even classify beer as an alcoholic
beverage until 2011, announced on Thursday that it would acquire
the 170-year old American brewer Pabst Brewing Company with
American private-equity firm TSG Consumer Partners owning a
minority share.

The Russian company reportedly paid $700 million for the American
beer label, which makes a decent profit for C. Dean Metropoulos,
the firm that bought Pabst in 2010 for $250 million.

READ MORE: Carlsberg shrinks the size of its beer
bottles in line with Russian market

Oasis, which also has operations in Ukraine, Belarus and
Kazakhstan, is a beverage heavyweight in its own right, putting
out local favorites, like Golden Tankard, and the Soviet-era
Zhiguli label.

An Oasis spokesperson attempted to calm fears that some radical
changes may be coming for Pabst.

“There are definitely no plans to change any of the recipes
of the brands,” an Oasis spokesperson told CNNMoney.
“The entire team at Pabst including the Head Brewer Greg
Deuhs will continue to focus on maintaining the classic recipes
and consistent quality of all Pabst products. No changes
whatsoever.”

Party animal #Pabst#PBRpetspic.twitter.com/m3nIIldfMr

— Pabst Blue Ribbon (@PabstBlueRibbon)
September 17, 2014

Eugene Kashper, chairman of Oasis Beverages, connected Pabst with
some of America’s global image.

“Pabst Blue Ribbon is the quintessential American brand – it
represents individualism, egalitarianism and freedom of
expression – all the things that make this country great,”
he said.

Meanwhile, Pabst seems content with the new international team of
owners.

“We are delighted at Mr Kashper’s and TSG’s strong commitment
to growing the unique Pabst portfolio, and we are very supportive
of the new ownership group and their exciting plans for the
future,” Dean Metropoulos, a co-owner of Pabst, said in a
statement.

Kashper said the American brewer will continue to be based in Los
Angeles.

The popular and inexpensive Milwaukee-brewed drink, which has
attracted a cult following of late, got a prominent endorsement
in David Lynch’s 1986 cult classic film, “Blue Velvet,”
where actor Dennis Hopper makes an unforgettable demand for a
“Pabst Blue Ribbon.”

Pabst’s “blue ribbon” got its name after winning a beer
competition at the World’s Fair in Chicago in 1893.

Article source: http://rt.com/business/189328-russia-pabst-beer-purchase/