Categorized | Beer, News

Pabst Brewing Company – Could Be Sold Again In 2010

pabst-brewing-company

It has been brought to my attention by no other than my former roommate and a good friend – Brian Fishman that two advertising agencies have started fundraising efforts to buy Pabst Brewing Company and the 25 beer brands that come with it.

After further investigation, it appears that Pabst Brewing Co. could indeed go up for sale as early as 2010. According a New York Post article, the brewery’s current owner – the Kalmanovitz Charitable Foundation could be forced to sell. According to the Internal Revenue Code, a non-profit cannot have any for profit holdings in its portfolio. So after several years of deliberation, it finally appears that IRS will be forcing the sale. It has also been confirmed that Bank of America Merrill Lynch has been selected as the dealer in charge of shopping Pabst Brewing Company.

It is important to note that the final sales price could fall well below the asking price tag of $300 million as the transaction will face strict IRS imposed deadlines.

Tags | , , ,

Monday, September 25, 7:03 pm

Search by Tag