Tag Archive | "pabst brewing company"

Pabst Brewing Company – Could Be Sold Again In 2010

Pabst Brewing Company – Could Be Sold Again In 2010

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. [...more]

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For Sale: The Beers that Made Milwaukee Famous

For Sale: The Beers that Made Milwaukee Famous

Pabst Brewing Company, with its roots firmly in Milwaukee, but now with executive offices in Woodridge, Illinois, is up for sale. The company was acquired in 1985 and is currently owned by Kalmanovitz Charitable Foundation, located in California, which must sell it as part of an IRS mandate that forbids charitable organizations to own for-profit companies. Apparently, the charity has attempted to sell the brewing company since an initial 2005 ruling with a 2008 deadline; no buyer has been found and the foundation was granted a 2010 extension. Estimates of the company's asking price are reported to be approximately $300 million. [...more]

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Pabst hires industry veteran as CEO

Pabst hires industry veteran as CEO

Pabst Brewing Co. announced the hiring of beer industry veteran John J. Lennon as its new CEO. The privately held Woodridge-based brewer has been looking for a new leader since former CEO Kevin Kotecki resigned in May. “After conducting a nationwide search, we are confident that John’s 25 years of sales and marketing experience in the beverage industry will provide significant value in helping us grow our diverse portfolio of brands,” Lou Giraudo, Pabst chairman, said in a statement. [...more]

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