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Pabst for sale
(Woodridge, IL) – Pabst Brewing is for sale again after it was originally put on the market several years ago. Pabst is the #3 largest brewing company behind A-B/InBev and SABMiller.
The New York Post published the exclusive yesterday morning, reporting that the owner, the California-based Kalmanovitz Charitable Foundation, was trying to find a buyer who would pay in the $300 million area. The Milwaukee Journal Sentinel provided further context around the sale:
“The sale effort is apparently the result of a deadline imposed by the Internal Revenue Service. Federal tax laws don’t allow charitable foundations to own for-profit companies.
The IRS initially gave the foundation until 2005 to sell Pabst. That deadline was extended to 2010 when a buyer couldn’t be found, according to a 2008 report by the Chicago Tribune.”
Down the street from corporate headquarters, the Chicago Cubs, who earned $239 million in revenue over the 2008 season according to Forbes’ annual baseball report, were sold for $900 million earlier this year. Pabst doesn’t have that much value now. Production was down to 5.9 million barrels in 2008 according to The New Brewer’s annual report though it was near 16 million in its heyday. Last year’s figure is a 3.3% decline from the prior year.
The brand is bouncing back in a big way in 2009 though and the timing couldn’t be any better. AdAge reported in September that PBR sales are up 25%.
Pabst professed its place as the largest “fully independent and American-owned” brewery a little over a year ago in a bizarre press release. In it, Pabst alleges that it received “many inquiries” regarding its ownership after the A-B/InBev merger. Maybe that kind of declaration of independence will appeal to the eventual buyer, perhaps another Belgian corporate behemoth? Michael Horne of Milwaukee World summarized the arguments against Pabst’s independence, citing, among other things, the fact that its beers are contract-brewed by SABMiller.
I wonder what the guy who made the Pabst can coffin thinks about the whole thing?
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November 3rd, 2009 at 11:21 pm
Pabst for sale http://ff.im/-aX6KQ
This comment was originally posted on Twitter
November 3rd, 2009 at 11:33 pm
RT @allbeernews Pabst for sale http://ff.im/-aX6KQ @grahampire hey buddy you wanna go 50/50 with me?
This comment was originally posted on Twitter
November 4th, 2009 at 12:04 am
Pabst for sale http://bit.ly/Reneq
This comment was originally posted on Twitter
November 4th, 2009 at 1:18 am
No doubt of interest to @benmarvin http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 4th, 2009 at 1:51 am
Or if you prefer a can of PBR, Pabst Brewing is for sale. Again. http://ff.im/-aX6KQ
This comment was originally posted on Twitter
November 4th, 2009 at 7:56 am
Pabst for sale – http://tinyurl.com/ylpp2jn
This comment was originally posted on Twitter
November 4th, 2009 at 11:15 am
Lux should buy it RT @allbeernews Pabst for sale http://ff.im/-aX6KQ
This comment was originally posted on Twitter
November 4th, 2009 at 1:25 pm
Pabst is for sale http://tiny.cc/FX82L
This comment was originally posted on Twitter
November 4th, 2009 at 7:01 pm
Wanna buy a classic American beer brand? Pabst is for sale… http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 4th, 2009 at 9:57 pm
Wanna buy a classic American beer brand? Pabst is for sale… http://bit.ly/3HsfWL (via @olympictavern)
This comment was originally posted on Twitter
November 11th, 2009 at 7:52 pm
Who can lend me $300 mil http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 11th, 2009 at 8:49 pm
what will the hipsters (and some of my friends) do? http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 11th, 2009 at 9:36 pm
who’s got $300 million for Pabst? http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 11th, 2009 at 9:48 pm
BREAKING NEWS: PABST BREWING COMPANY FOR SALE!!! Who’s got 300 millions dollars??? http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 11th, 2009 at 9:51 pm
It’s not just PBR – the company is also behind a couple dozen other brands. http://www.pabstbrewingco.com/portfolio/default.aspx
This comment was originally posted on Holy Kaw!
November 11th, 2009 at 10:33 pm
PBR Brewing Co For Sale http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 11th, 2009 at 10:42 pm
Anyone want to chip in and collectively buy Pabst | http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 11th, 2009 at 10:42 pm
Anyone want to chip in and collectively buy Pabst | http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 11th, 2009 at 11:29 pm
Pabst for sale – $300 mil http://bit.ly/QPeh0
This comment was originally posted on Twitter
November 12th, 2009 at 12:12 am
RT @viptucker: PBR Brewing Co For Sale http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 12:53 am
Do you have an extra $300,000,000.00? Pabst Blue Ribbon Beer is for sale!
http://bit.ly/3yvUYj http://fb.me/3ntRTFC
This comment was originally posted on Twitter
November 12th, 2009 at 3:47 am
Anyone want to buy Pabst brewing? http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 8:40 am
What’ll You Have? PBR Me ASAP! Pabst Brewing Co. for sale, again. http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 10:10 am
If you have an extra $300M, I would love this for Christmas…http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 10:51 am
PBR is for sale! http://bit.ly/1Xcblf
This comment was originally posted on Twitter
November 12th, 2009 at 11:52 am
who wants to buy Pabst BR? http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 12th, 2009 at 11:57 am
@PabstBlueRibbon is for sale for $300M – What will hipsters do if they get bought by InBev? http://is.gd/4TqX7 (via @michaeltomko)
This comment was originally posted on Twitter
November 12th, 2009 at 12:06 pm
@zosiakayess also please tell Charles about this http://bit.ly/3yvUYj who knows, he might make it happen.
This comment was originally posted on Twitter
November 12th, 2009 at 12:10 pm
who wants to lend me $300M to buy Pabst Brewing? http://bit.ly/4xMYQa | PBR:Hipsters as Heineken:guidos – perhaps the next “My New Haircut”?
This comment was originally posted on Twitter
November 12th, 2009 at 12:39 pm
Anyone have $300M I could borrow? It’s worth it for the sweet, sweet blue ribbon. . . Pabst Brewing for sale http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 12th, 2009 at 1:03 pm
Pabst for sale, let’s pool our money http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 12th, 2009 at 1:07 pm
Pabst Brewery is for sale. $300 mil. Seems a little over priced. Isn’t bottled water more expensive per ounce? http://bit.ly/4wlxgJ
This comment was originally posted on Twitter
November 12th, 2009 at 1:55 pm
http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 1:56 pm
Pabst Brewing for sale: $300 million. http://bit.ly/3yvUYj
This comment was originally posted on Twitter
November 12th, 2009 at 2:55 pm
#BabsonBCE HOT Biz opportunity: PABST for sale! http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 12th, 2009 at 2:59 pm
@skjain2 I will buy it, can I borrow $300 milliion? RT @skjain2: #BabsonBCE HOT Biz opportunity: PABST for sale! http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 12th, 2009 at 4:01 pm
Pabst Beer is for sale http://bit.ly/1Xcblf
This comment was originally posted on Twitter
November 12th, 2009 at 4:21 pm
ok, any VCs out there willing to invest in a new beer brand? buy up Pabst and lets go!! http://bit.ly/5AXsp
This comment was originally posted on Twitter
November 12th, 2009 at 4:23 pm
Can we get a pool together? http://bit.ly/1gcmFu just need $300 Million
This comment was originally posted on Twitter
November 12th, 2009 at 8:12 pm
#PBR for sale! come on fellas lets all put our nickels together….http://bit.ly/3HsfWL
This comment was originally posted on Twitter
November 13th, 2009 at 2:15 am
Trying to save and buy Pabst Brewing Company. Please visit http://www.buyabeercompany.com
This comment was originally posted on Holy Kaw!
November 13th, 2009 at 1:00 pm
@andiliketoparty … http://tinyurl.com/ylpp2jn … Papst Brewing is for sale! Probably the best investment ever
This comment was originally posted on Twitter
November 14th, 2009 at 7:50 pm
I had no idea that Pabst had all those brands. Many are very familiar to those of us who’ve been around awhile. When Pabst went back to their original formula their awards started and you began to see them in bars again. I like it and well as others on the list. Thanks to Rich for bringing the link to our attention.
This comment was originally posted on Holy Kaw!
November 14th, 2009 at 7:52 pm
PS I wish they had a baseball style jacket with some of those retro style label’s for different brands, That would be very cool indeed. Some of them are over 90 years old.
This comment was originally posted on Holy Kaw!
November 15th, 2009 at 10:11 am
I had no idea that PBR wasn’t ALREADY owned by some behemoth Belgian brewing conglomorate. My guess is that it will survive any potential sale. It is far too delicious ever to die.
This comment was originally posted on The Joy of Drinking