Wednesday’s ad is for Pabst, since they’ve been in the news lately. Since the ad is so retro, trying to evoke an earlier time, I can’t be sure when exactly it was created, though my wild guess is sometime between the 1950s and 70s. But it’s certainly meant to mimic the ads of the later 1800s.
Additional information about the recently announced sale of Pabst Brewing by billionaire C. Dean Metropoulos is seeping out, and again primarily the information is coming from Harry Schuhmacher, from Beer Business Daily (proving once again everyone in the beer business should subscribe to his daily newsletter).
The Wall Street Journal is reporting that the sale price to Metropoulos is $250 million. They also claim that the “deal is ‘in its final stages’ and is being backed by GE Capital. MillerCoors will presumably continue to brew the beers for Pabst, since their contract isn’t up for renewal until 2015.”
Perhaps most frightening, and clear proof that Pabst won’t become a more sophisticated brand under the new management:
The Journal says that Metroupoulos’ two sons, Evan 29, and Daren 26, “are expected to play key roles at Pabst.” These two guys are men about town for sure. The New York Times society columnist describes meeting them at a party where they were lounging on a couch. When the writer didn’t know who they were, Evan reportedly said, “Where you been, man? I’ve been on David Letterman and Howard Stern … I’ve been with more chicks than any fat guy you know, except Pavarotti.”
Wow, classy. But then again, it is PBR. Beer Business Daily also had a lengthy update with more information yesterday that’s worth taking a look at.
Wednesday’s ad is a Christmas ad — because today is Old Christmas Day, when “on the 12th day after Christmas, Christians celebrate the visit of the Magi, the first Gentile recognition of Christ.” It’s also known as Epiphany, Three Kings Day and Twelfth Day. If I had to guess, I’d say this ad was from the mid-to-late fifties. The tagline “What’ll You Have?” was used by Pabst for a number of years and it appears it a number of their ads from that time period. Happy Christmas.
The San Antonio Business Journal is reporting that local company Pabst Brewing has “hired Merrill Lynch to facilitate a possible sale of the company.” Pabst CEO Brian Kovalchuck acknowledged that the New York financial powerhouse has already sent out a prospectus to potentially interested parties, who include breweries as well as “leveraged buyout firms.” With annual sales of around $575 million, Pabst is the fourth largest brewer in the country, despite owning no physical brewery and contracting their beers through Miller. They own almost thirty brand names, including Pabst Blue Ribbon, Old Style, Old Milwaukee, Lone Star, Schlitz, McSorely’s, Olympia, Stroh’s and Colt 45.
With PBR recently finding new life by currying retro favor with young people, it will be interesting to see who will be interested in buying the brand. If Anheuser-Busch hadn’t bought Rolling Rock earlier this year, I would have put them at the top of the list. But who knows, maybe they still might make a play for it. But I think the most obvious potential buyer, among brewers at least, is SABMiller, if for no other reason than they’ve been doing the contract brewing for a number of years and could use the shot in the arm of another popular label.