Lew Bryson: Pabst Deal Closes

News comes Friday that the Pabst deal is final. Connecticut investor C. Dean Metropoulos bought the company from the Kalmanovitz Charitable Foundation for an undisclosed price; the erstwhile chairman of Pabst, Lou Giraudo, would only say that the speculated price of about $250 million was incorrect. Metropoulos made no comment.  A Reuters story said that “The foundation listed its total assets as $62.3 million in its tax return for the year ending June 30, 2008.” The story also noted that

“Sales of Pabst Blue Ribbon in food, drug and other retail outlets rose 33 percent to about $172.7 million in the 52 weeks ending April 18, The Wall Street Journal has reported, citing data from market research firm SymphonyIRI Group.”

So that’s done. Now we’ll see what the Pabst drinkers — the reputed hipsters and bike messengers — are going to do. I suspect they’re going to keep drinking Pabst.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s