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Pabst Acquired By Eastern European Brewer Oasis Beverages For Reported $700 Million

September 19, 2014

Pabst Brewing Company has been sold by private equity owner Metropoulos & Co. to Oasis Beverages, a Cyprus-headquartered brewer with operations focused in Eastern Europe. The purchase price was undisclosed, but sources told the New York Times that the deal was above $700 million. Metropoulos had acquired Pabst—including the Pabst Blue Ribbon, Lone Star, Rainier, Ballantine IPA, Schlitz, Old Style, Stroh’s and Old Milwaukee beer brands—from Kalmanovitz Charitable Foundation for around $250 million in 2010.

Oasis has global volume of 6.1 million hectoliters and claims to have a 12% share of the Moscow beer market. It also operates in Ukraine, Kazakhstan and Belarus. The company was founded in 2008 by Eugene Kashper, who began his career with Stroh’s in 1994. Oasis’s acquisition was backed by TSG Consumer Partners, which will retain a minority stake in Pabst as part of the deal.

“We intend to invest meaningfully in the organization, to continue strong marketing support for PBC’s unique brands, and to drive new product innovations and renovations, such as the recent launch of Ballantine IPA,” Kashper said.

Pabst’s core Blue Ribbon brand has grown by more than one-third in the U.S. market since 2010, rising 7% to 35 million (2.25-gallon) cases last year, according to Impact Databank.

 

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