Pabst Brewing Sold to Metropoulos Private-Equity Firm

Pabst Brewing Co.’s purchase by C. Dean Metropoulos & Co. closed, giving the private-equity firm the owner of Pabst Blue Ribbon and Old Milwaukee beer.

C. Dean Metropoulos, who previously managed brands such as Chef Boyardee and Hungry-Man, bought the company with his two sons, he said in an interview on Bloomberg Television. Pabst had sought a $90 million term loan to back a buyout after last year hiring Bank of America Merrill Lynch to find bidders.