Pabst Brewing Co., North America’s largest privately held 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, a leading 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 Co. 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 organization and brands.”
Brian Krumrei, managing director at TSG, added, “We are excited to partner with Eugene and the rest of the management team to build on Pabst’s heritage of over 170 years. Pabst is an exceptional story and we look forward to being part of its future growth with consumers and distributors in the U.S. and abroad.”
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. Kashper and his family are relocating from New York to Los Angeles, where Pabst is headquartered.