Metropoulos & Co. Acquires Pabst Brewing Company

Greenwich, Conn., June 30, 2010 -- Metropoulos & Co., a leading investor in and manager of branded consumer products, has announced that it has acquired Pabst Brewing Company, North America's largest privately held brewing company. Financial terms of the transaction were not disclosed.

Pabst Brewing Company has been in business since 1844. The company produces several of America's best-known brand labels, including the award-winning Pabst Blue Ribbon, Old Milwaukee, Lone Star, Colt 45, Old Style and Schlitz. Headquartered in Woodridge, Illinois with offices in Milwaukee and San Antonio, Pabst generates annual sales in excess of $500 million.

Dean Metropoulos said, "My sons, Evan and Daren, and I are proud to be part of this 165 year-old historic American icon. Pabst Brewing Company is one of America's most traditional and well-recognized beer companies and the producer of brands with great heritage and attractive growth trends."

Metropoulos will serve as Chairman and CEO of Pabst. Sons Evan and Daren, who have been associated with the unique innovation and turnaround of many of the group's past acquired brands, will be actively involved in Pabst's operations and strategic direction. The Pabst management team will remain in place under the new ownership.

Metropoulos & Co. is a well-respected investment firm known to Wall Street for its renowned ability to grow, reposition and reinvigorate consumer businesses.

Over the past 25 years, Metropoulos & Co. has successfully invested in and managed several branded consumer businesses assembled through more than 65 acquisitions in the United States, Europe and Latin America involving more than $10 billion. These businesses include Stella Foods, The Morningstar Group, Ghiradelli Chocolate, International Home Foods (Chef Boyardee, PAM, Bumble Bee Seafood, Gulden's mustard and Pinnacle Foods.