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The iconic American Pabst Blue Ribbon brand will soon be owned by a Russian company under a deal to sell the Los Angeles-based brewer for an undisclosed sum.


Pabst Brewing Co., with such beer brands as Colt 45, Old Milwaukee and Schlitz, was acquired four years ago by C. Metropoulos & Co. It's now being sold to Russia's Oasis Beverages and private-equity firm TSG Consumer Partners LLC. The price tag for Pabst is thought to be between $700 million and $750 million, 

, Eugene Kashper, the chairman of Oasis, who will become the new CEO of Pabst, called the beer "the quintessential American brand — it represents individualism, egalitarianism, and freedom of expression — all the things that make this country great."


"The opportunity to work with the company's treasure trove of iconic brands, some of which I started my career selling, is a dream come true," he said in the statement. "It will be an honor to work with Pabst's dedicated employees and partner distributors as we continue to build the business."

The statement said that the company would remain headquartered in Los Angeles.

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The price tag for Pabst is thought to be between $700 million and $750 million.

Iconic Pabst beer brands sold to Russian company

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