Russian Brewer Oasis to Buy Iconic American ‘Pabst Blue Ribbon’

Author: us-russia
Comments: 0
Category: News, TopStories
Russian Brewer Oasis to Buy Iconic American ‘Pabst Blue Ribbon’
Published 20-09-2014, 07:19
MOSCOW, September 20 (RIA Novosi) - The Russian brewer company Oasis Beverages has signed a contract to buy the 170-year old American Pabst Brewing Company, which produces a number of popular American beer brands, among them Pabst Blue Ribbon, Huffington Post reports.

According to Eugene Kashper, Chairman of the Oasis Beverages Board, the recipes of the brands are planned to remain unchanged.  "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”, he wrote in an email to CNNMoney.

American Pabst Brewing Company produces a number of well-known American beer brands, including Pabst Blue Ribbon, Old Milwaukee, Schlitz and Colt 45, popular for their low cost and wide youth appeal. The company had experienced years of decline until 2008, but then regained its popularity over the last 6 years.  According to Huffington Post, the Pabst beer consumption in 2013 increased 200 percent from 2004 and totaling 350 million liters.

The company was previously owned by an American food industry investor and businessman C. Dean Metropoulos. It will be acquired by Oasis in partnership with TSG Consumer Partners, an American private-equity firm. The deal is estimated at $ 700-750 million with Oasis taking a majority stake.

Oasis Beverages is one of the largest Russia-based beer and soft-drink companies, operating in Russia, Ukraine, Kazakhstan and Belarus.  It produces several regional soft-drink and beer products and distributes a number of famous international brands like Heineken, Erdinger, Krombacher and Chimay.

 

RIA Novosti

Comments: 0
Category: News, TopStories
Experts' Panel
Are the U.S. and Russia...
The Sunday, February 24 edition of Russian state television’s...
Are the U.S. and Russia...
Top
popular in the journal
RUSSIAN FEDERATION SITREP 9 JULY...

RUSSIAN FEDERATION SITREP 9 JULY...

RUSSIA AND COVID. Latest numbers: total cases 707K; total deaths 10843; tests per 1 million 151K. Russia has done 22 million tests (third after China and USA); ...
Beijing would join arms control...

Beijing would join arms control...

China would "be happy to” participate in arms control negotiations with the United States and Russia, but only if the US were willing to reduce its nuclear arsenal to ...
Do gods want to destroy America or...

Do gods want to destroy America or...

President Trump should make foreign policy pitches at upcoming global summits
Happy Independence Day, America

Happy Independence Day, America

Для многих американцев и россиян стало традицией поздравлять друг друга с днями независимости, которые отмечаются 12 июня в России и 4 июля в Америке. В этом году ...
Astronauts Should Use Venus’...

Astronauts Should Use Venus’...

Newly drafted research findings have provided the scientific community with a shocking revelation: a flight to Mars is far quicker and much cheaper if astronauts conduct ...