I may have forgotten to mention that the Pabst Brewing Company is ailing, doomed, and for sale. Despite an effective appeal to 20-somethings on its flagship brand, most of the company's portfolio (Schlitz, Rainier, Old Milwaukee, Olympia) are in swift decline. Sadly, Pabst isn't really even a brewery anymore--they sold off the old Milwaukee property in '96 and now contract with MillerCoors to brew their beer. Still, it's the largest independent, American-owned beer company in the US, and many have a soft spot for it. A crowd, you might say.
The solution is obvious, right? Crowd-source a purchase! Two ad companies are trying to get enough people to pledge to pool their money (in increments as small as five bucks) to buy the $300 million company. For just pennies, you can own Pabst. Call it the Green Bay Packers model of business.
Personally, I wouldn't want the thing. Pabst is in a terrible position, and if the brand survives, it will be as a minor subsidiary of one of those massive beer companies that are now desperately eating their own. Aside from a history, a "brand identity," and a recognizable label, there's not a thing about Pabst that distinguishes it from the 97 other tin-can beer brands out there. With no brewery, no local audience, and no commitment from an owner, the writing's on the wall. Pabst is a sucker's bet.
Beer Geeks Portland Episode Airs Saturday
1 hour ago