Did Pabst Really Just Sell For $700 Million?
That's the word from Buisiness Week. As a sometimes Pabst drinker, I'm happy for the former owners, who changed the image of the brew and helped it turn a profit again after it's heyday in the 70's. Yep, the 70's. As I was beginning my radio career in Peoria, the city was still stinging from a recent closure of a Pabst Distributorship. I was discouraged from drinking Pabst (If I could find it, even) because of all the jobs recently voided by the then-new owners business plan in 1985.
That plan saved the brand, and it's now being sold for almost $500 million more than it was purchased for just 4 years ago. That's a great return. Some Russian investment company just paid serious cash for this PBR brand, and while we probably won't see much change in operations day-to-day, it's still still sad to see the once mighty Nectar of The Gods lose it's U.S. connection.
PBR-me ASAP RUSS-kie?