Business

Pabst Brewing Company to get new owner

interns Contributor

Investor C. Dean Metropoulos made a fortune building well-known consumer brands, including Bumble Bee Tuna and Vlasic Pickles. Now, he is looking to wash them down with a Pabst Blue Ribbon.

Metropoulos, a 64-year-old executive known for invigorating brands, has reached an agreement to buy Woodridge-based Pabst Brewing Co. from the charitable foundation that owns the company for about $250 million, according to people familiar with the matter.

Although little known outside of food circles, he earned a fortune managing brands such as Chef Boyardee, Duncan Hines and Ghirardelli Chocolates.

With Pabst, Metropoulos is showing his deal-making skills.

Pabst Brewing is the country’s fifth-largest beer supplier, according to industry newsletter Beer Marketers Insights Inc., accounting for 2.7 percent of industry volume last year.

Full story: Woodridge-based Pabst Brewing to get new owner – Dow Jones Newswires via Chicago Tribune