Pabst beer is not owned by Anheuser Busch. In fact, Pabst has had quite a journey when it comes to ownership. Let me take you through the history.
Pabst Brewing Company, originally known as Best Brewing Company, was founded in 1844 by Jacob Best and later became Pabst Brewing Company in 1889. For many years, Pabst was a prominent and successful brewery, known for its flagship beer Pabst Blue Ribbon. However, like many other breweries, Pabst faced challenges in the mid-20th century due to increased competition and changing consumer preferences.
In 1985, Pabst was acquired by Paul Kalmanovitz, a wealthy investor. Kalmanovitz already owned several other breweries and had a reputation for acquiring struggling breweries and turning them around. Under Kalmanovitz's ownership, Pabst faced some significant changes. The company's focus shifted from brewing its own beer to contracting out production to other breweries. This allowed Pabst to reduce costs and keep the brand alive.
Fast forward to 1999, Pabst Brewing Company was acquired by a partnership between the Kalmanovitz Charitable Foundation and the Metropoulos family. The Metropoulos family, led by father-and-son team C. Dean Metropoulos and Daren Metropoulos, had a successful track record in the food and beverage industry, including reviving brands like Chef Boyardee and Bumble Bee Tuna.
Under the Metropoulos family's ownership, Pabst underwent a revitalization. They focused on marketing and repositioning the brand, particularly targeting the younger demographic. Pabst Blue Ribbon, in particular, experienced a resurgence in popularity, becoming a symbol of hipster culture and gaining a cult following.
Then, in 2010, there were rumors and speculation that Anheuser Busch, one of the largest beer companies in the world, was interested in acquiring Pabst. However, these rumors turned out to be false, and Pabst remained under the ownership of the Metropoulos family.
Pabst went on the market again in 2014 and was ultimately acquired by Blue Ribbon Intermediate Holdings LLC, a partnership between Eugene Kashper, a beer entrepreneur, and San Francisco private equity firm TSG Consumer Partners. The reported sale price was around $700 million, marking a significant milestone in Pabst's ownership history.
So, to summarize, Pabst beer is not owned by Anheuser Busch. It has had a diverse journey of ownership, from its early days under the Best family to the various acquisitions by Kalmanovitz, the Metropoulos family, and now the partnership between Kashper and TSG Consumer Partners. Each ownership change brought different strategies and approaches to keep the Pabst brand alive and relevant in the ever-changing beer industry.