Pabst Sold for $700 Million

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Looks like Pabst Brewing Company, makers of Pabst Blue Ribbon, is being sold to Oasis Beverages, a Russian brewing company and distributor. According to the New York Times, Oasis will pay between $700 and $750 million for the brand. In addition to PBR, Pabst also makes Colt 45 and Old Milwaukee, in addition to other legacy brands and local favorites including Lone Star, Ranier, Old Style, Schlitz and National Bohemian.

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

Kashper will operate as the CEO and Pabst’s headquarters will stay in Los Angeles.

The move leaves few truly large, American-owned brewers left, with Pennsylvania’s Yuengling and Boston Beer Co. (Sam Adams) leading the way. The real question is, will Russian ownership make hipsters more or less likely to buy a case of PBR?

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