Pabst Brewing Company has completed its sale to Blue Ribbon Intermediate Holdings. Blue Ribbon is a partnership between American beer entrepreneur Eugene Kashper and San-Francisco-based TSG Consumer Partners, an investor in growth consumer brands. Terms of the transaction were not disclosed.
“We are thrilled to complete the acquisition of this great company,” said Kashper. “I started my career with The Stroh Brewery Company, selling many of Pabst’s classic brands such as Old Milwaukee, Schaefer, Schlitz and Stroh’s. In the 20 years since then, I have been selling, marketing and brewing beer, and have loved every minute of it. The opportunity to work with a timeless American brand like Pabst Blue Ribbon is a dream come true. We will stay true to Pabst’s roots and are committed to investing in the Company’s organisation and brands.”
Kashper has been named chairman and CEO of Pabst, and the rest of Pabst’s executive leadership team will continue in their current roles. Pabst’s board of directors will include Kashper, Krumrei and Brooklyn Brewery CEO Eric Ottaway. Eugene Kashper and his family are relocating from New York to Los Angeles, where Pabst is headquartered.
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