Dive Brief:
- Oasis Beverages and TSG Consumer Partners LLC have agreed to acquire Pabst Brewing Co. at a valuation between $700 and $750 million.
- Russian brewer Oasis will take a majority stake, while private equity firm TSG will take a minority stake.
- The two will buy the company from C. Dean Metropoulos & Co., the consumer products investor that bought the company in 2010 for $250 million.
Dive Insight:
While rumors of the sale where circulating since last Friday, those largely speculated that TSG would take a minority stake in the brewer. But, as we observed then, this might be the right time to sell the company that also includes a handful of other beer brands including Colt 45, Schlitz, and Old Milwaukee.