A Hipster's Lament: PBR Sold To Picklemaker (Sort of) And His Rich Kids

By Karl Klockars in News on May 28, 2010 6:40PM

Venerable beer brand Pabst Blue Ribbon, which for some reason always gets connected with bike messengers in MSM reports, has reportedly been sold for $250 million to the man who helped make Vlasic Pickles what they are today. Crains tells us that C. Dean Metropoulos has purchased the Woodridge-based company from Kalmanovitz Charitable Foundation. Non-profits like the Kalmanovitz organization can only own for-profit businesses for five years, but received a special dispensation for another five year stretch from the IRS. It expires this year, and according to the Wall Street Journal up to 15 firms were jockeying to own the brewery, which also owns Schlitz, Old Style and Colt 45.

Metropoulos (whose name totally reminds us of this guy) started at his father's feta cheese company in Vermont, and transformed into a food investor, building up brands and selling them off for huge gains. Metropoulos has helped build or revitalize brands like Lender's Bagels, Bumblebee Tuna, Chef Boyardee and the aforementioned Vlasic. We haven't seen any reports to indicate that Metropoulos is planning to relocate PBR's suburban offices, but the WSJ says that "Metropoulos's two sons, Evan, 29 years old, and Daren, 26, are expected to play key roles at Pabst." Daren recently dropped $18 million to pick up Hugh Hefner's mansion in Holmby Hills, and Evan was featured in MTV's "True Life: I'm The Youngest Tycoon In The World." Yes, hipsters - this is the new face of PBR.

If we may be so bold as to offer a suggestion, Clan Metropoulos, would you consider bringing Billy Dee Williams back to herald a rebirth of Colt 45?