Pabst Blue Ribbon Will Not Be Owned by Russians After All
Despite earlier reports about the potential sale of Pabst Blue Ribbon to Russian beverage company Oasis, which owns a 12 percent share of the Moscow beer market, Pabst will remain under American ownership after all, reports The New York Times.
In fact, though Oasis was connected with the deal, the company was “never part of the buying group, or even involved in talks to buy Pabst,” though the company’s chairman, Russian-born American citizen Eugene Kashper, was in talks to buy the company independently of his role within Oasis.
At the time, Kashper was “discussing a distribution agreement with Oasis” that would allow the company to distribute Pabst to the Russian and Eastern European markets, as well as sell the company a “minor nonvoting stake in Pabst.”
However, distribution plans fell through after sanctions were placed in Russia as a result of its actions in the Ukraine. Kashper formed a new, all-American company called Blue Ribbon Intermediate Holdings with the San Francisco-based TSG Consumer Parners, which now owns Pabst.
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Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.