Pabst Brewing Company Acquired by Russian Group Oasis Beverages
Pabst Blue Ribbon, the Official Beer of the American Hipster™, now belongs to Russia. This week Eugene Kashper, Founder and Chairman of Russian soft drink and brewing company Oasis Beverages, announced that his company has entered into an agreement to acquire Pabst Brewing Company for an undisclosed sum.
What would a leading independent Russian brewing company want with Pabst? There’s a lot to desire in the company, especially after its return from the brink of collapse and metamorphosis into the favorite cheap beer of the Millennial generation. Today Pabst is one of the world’s biggest brewing companies in terms of sales volume, and does especially well in Russia’s next-door neighbor China. Kashper’s own history and the nostalgia factor also come into play – Kashper began his career in the beer industry with Stroh Brewery Company, which is now owned and produced by none other than Pabst.
“Pabst Blue Ribbon is the quintessential American brand – it represents individualism, egalitarianism, and freedom of expression – all the things that make this country great,” says Kashper in a statement to the press. “The opportunity to work with the company’s treasure trove of iconic brands, some of which I started my career selling, is a dream come true. It will be an honor to work with Pabst's dedicated employees and partner distributors as we continue to build the business.”
So far Oasis Beverages seems to have Pabst Brewing Company’s best interests in mind in regards to operations following the acquisition. According to the press statement, Oasis plans to “invest meaningfully” in Pabst, providing strong development and marketing support for all of its brands – which include Lone Star, Schlitz, and Olympia along with Stroh’s and Pabst Blue Ribbon – and driving growth of newer products like the Ballantine IPA (from Pabst’s own recent acquisition of Ballantine Brewery) freshly launched in August.
Oasis also enlisted the partnership of US-based investment firm TSG Consumer Partners LLC, owner of brands like vitaminwater and popchips, as a minority stake investor to help facilitate the acquisition. Pabst will also remain a United States company in nearly all respects – despite the Russian takeover, Pabst headquarters will remain in Los Angeles, CA.
Ireland could create template for global food sustainability
Leveraging innovation could cultivate new agricultural breakthroughs, making Ireland the most responsible and sustainable food producer on Earth, according to a renowned local luminary.
Economist and author David McWilliams has insisted that Ireland can become a pivotal carbon-neutral, resource-efficient and sustainable food producer – possibly the most influential on the planet.
He does acknowledge, however, that there are considerable obstacles on the country’s trailblazing journey to complete energy-efficient and sustainable food production.
McWilliams also claims that the widely-held belief within the EU that reducing food production thus reduces carbon emissions does not tally.
“For the European Union to get an aggregate reduction in carbon emissions,” said McWilliams at the Alltech ONE Ideas Conference. “It would seem to me much more logical to favour those countries that have had an evolutionary, ecological or environmental gift, in order to actually produce more, not less, because your input-output ratio is so much lower than it is either in the parched Mediterranean or in the frozen tundra of the North.”
Reflecting on the situation in the US, McWilliams said its agriculture output had tripled between 1948 and 2015, with exponential gains in efficiency. Surprisingly, agriculture only contributes to 7.5% of total US greenhouse gases, far below the 30% attributed to cars.
“I think American culture is changing, at least when you see it from the outside,” said McWilliams said of President Biden’s approach. “He's saying, ‘There's no point being wealthy if the wealth is only in the hands of a small minority. The wealth has to trickle down to everybody else.’”
McWilliams concluded that for Irish agriculture to modernise and grow, it should use one of Ireland’s leading sectors – technology – as a frame of reference. It currently generates over $25 billion in exports.