Pabst Brewing Co is likely to change hands again

Pabst Brewing Co is likely to change hands again

Private equity group TSG Consumer Partners has declined to comment on reports that it is in talks to acquire Pabst Brewing Co. 

The Wall Street Journal reported yesterday, citing unamed sources, that the two firms are in “advanced talks” over a deal worth around US$1bn. Pabst, whose brands include Pabst Blue Ribbon, Schiltz, Colt 45 and Old Milwaukee, is owned by investor Dean Metropoulos.

A source close to TSG told just-drinks that the firm is “not commenting” on the reports. 

Pabst Brewing Co has yet to respond to a request for comment. 

Reports that Pabst Brewing Co is on the market surfaced earlier this year. In April, Constellation Brands' CEO Rob Sands said he “can't comment” when asked if the company was looking to buy Pabst.  

Metropoulos & Co, Dean Metropoulos' investment fund, acquired Pabst in June 2010 for an undisclosed fee.