Pabst issues statement on new ownership

Freeman Staff

Sept. 24, 2014

LOS ANGELES - Pabst Brewing Company on Monday attempted to clarify “a number of inaccuracies” about its future ownership.

The company released a statement that declared it would remain “an American iconic brand with its headquarters in the U.S.”

Media reports surfaced last week indicated the company, which originated in Milwaukee in the 1800s, was being purchased by a Russian beverage company.

“The future owners of Pabst, Eugene Kashper, TSG Consumer Partners and Cyprus-based Oasis Beverages are deeply committed to Pabst’s future as an American company,” the statement said.

The statement went on to describe Kashper as a U.S. citizen who immigrated to the United States from Russia at the age of six. It called TSG Consumer Partners a “well-known U.S.-based strategic equity group” and described Oasis as a Cyprus-based beer and soft drink producer co-founded by Kashper.

“We look forward to working with our new colleagues and to continuing our 170-year old tradition.  PBR is a very strong brand with a rich heritage and authentic American values.  Our new colleagues will remain vigilant in staying true to the brand’s identity and will look to loyal customers for guidance,” the statement concluded.