Pabst beer may be worth $1 billion

Pabst Blue Ribbon beer at Betty's Food and Spirits in Columbus, Ohio, Friday, Feb. 6, 2004. (AP Photo/Terry Gilliam)

March 5, 2014 4:19:36 AM PST
Cult fans of Pabst Blue Ribbon Beer might not be surprised to hear that Pabst Brewing Co. could be worth $500 million to $1 billion, according to a report that says the company may be for sale.

Pabst, which is based in Los Angeles, is owned by investor C. Dean Metropoulos, who bought the beer company in 2010.

Metropoulos famously bought Twinkies, Cupcakes and Ding Dongs from the bankrupt Hostess Brands last year for $410 million with Apollo Global Management.

The brewery, which is one of the oldest in the country with roots going back to 1844, may also try to go public, according to unnamed sources cited in the reports by Reuters.

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