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Pabst Blue Ribbon Sells for $700 Million: The Long Life of an OK Beer

Pabst Blue Ribbon Sells for $700 Million: The Long Life of an OK Beer
Photograph by Tommaso Boddi/Getty Images

How much Pabst Blue Ribbon does $700 million buy? All of it.

Russian brewer Oasis Beverages just shelled out a heady sum for Pabst Brewing, the Milwaukee operation behind Old Milwaukee, Schlitz, Colt 45, and the suds hipsters and ski bums call “peee-brrrr.” The sum represents a staggering profit for C. Dean Metropoulos, the investment firm that bought Pabst in 2010 for just $250 million.