Walker should have offered a case of PBR against some Ten High.
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.
Pabst isn’t great beer, and it isn’t terrible. On Beer Advocate, which crowdsources reviews, PBR scores a 68 out of 100, edging out Budweiser (56) and Miller Light (53). Tasting decent helps, as does being cheap. But Pabst’s success to date is almost entirely a marketing story—even stretching all the way back into the 19th century.