The popular American Pabst Blue Ribbon brand is going red under a new deal that sells that Los Angeles-based brewer to a Russian company for an undisclosed sum.
But it’s not just PBR that will be lost to the Kremlin under the deal, Pabst Brewing Co, also brews Colt 45, Old Milwaukee and Schlitz.
The company is being sold to Russia’s Oasis Beverages and private-equity firm TSG Consumer Partners LLC, NPR reported Friday.
Oasis has operations in Russia, Ukraine, Kazakhstan and Belarus, according to its website. The company also makes soft drinks and juice along with beer.
The Wall Street Journal reports that the iconic Pabst company is worth between $700 million and $750 million.
In a statement, Oasis chairman Eugene Kashper, who will now become the new CEO of Pabst, called the beer, “The quintessential American brand — it represents individualism, egalitarianism, and freedom of expression — al the things that make this country great.”
The company will retain it’s headquarters in Los Angeles, according to the statement.
• Kellan Howell can be reached at khowell@washingtontimes.com.
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