Pabst Brewing Company, makers of Pabst Blue Ribbon, is currently owned by a charitable trust that must sell it by 2010. Forza Migliozzi and The Ad Store want to use crowdsourcing to buy the company for $300 million through their website BuyaBeerCompany.com.
From this CNN article:
Anyone over 21 can go to the site and pledge a minimum of $5 toward the reported $300 million sales price for Pabst. So far, would-be beer moguls have pledged more than $20 million in about a month. If the collective raises enough money, Migliozzi says contributors will get enough beer to match their pledges and ownership in the company.
While living in Portland, I definitely noticed the rising popularity of PBR. Shrug, I pledged $25. You don’t actually pay upfront, so we’ll see what happens.
The Best Credit Card Bonus Offers – November 2024
Big List of Free Stocks from Brokerage Apps
Best Interest Rates on Cash - November 2024
Free Credit Scores x 3 + Free Credit Monitoring
Best No Fee 0% APR Balance Transfer Offers
Little-Known Cellular Data Plans That Can Save Big Money
How To Haggle Your Cable or Direct TV Bill
Big List of Free Consumer Data Reports (Credit, Rent, Work)
I read about this the other day. If your in for 25 I will put in 25. Heres to Beer!
sounds like a publicity/marketing stunt.
at the bottom it says this is not a solicitation of monetary funds bla bla bla
I think I agree with xmasy. Either way Pabst is a great beer, wasn’t aware it was making a comeback, especially in Portland of all places.
Schlitz on the other hand…
If you pledge money will you actually have a part ownership in the Company and be compensated as such?
They seem to be extremely vague if you’ll actually own any of the company in the end and if you do, what type of shares you’ll get. There’s also no assurance that everyone that’s making a pledge will live up to their pledge when the time comes and what happens in the case that for example $50 million in pledges vanishes. The only guarantee is $25 gets you a 6 pack of PBR at some point in the future along with a piece of paper that says you contributed. Sounds like a high price to pay for a 6 pack.
I’m a PBR girl, but the only way I like it is in bottles! Thanks for posting this….it put a smile on my face!
So you get beer and a ‘certificate of ownership’. And then? Do you get a share of future profits? A vote? Who is going to manage the brand? I can’t find any more information on how this will actually work.
Yinna, just what I was thinking. WAY to little info.
Yinna/Jennifer – that exactly what I was trying to find on their site. I’m guessing it’s a donation to help them buy the company and all you get is product in return. No say in the company/no future profits. I wish I thought of this, ask people to give me money so I can buy something really expensive for free.
Crowdsourcing? Heck, I thought that is what a public company is with shareholders and such.
Unless of course, they just want the money and do not want to give any shareholding rights away. Pretty bad deal in that case, even with a beer bribe.
I don’t mind pledging $10 dollars to the cause but I want $10 worth of beer.
Yeah short on the details of what you’re actually pledging for. Though I really have to wonder what the quarter of a million pledge is supposed to get you?
Eh….PBR seems to be the dreck of hipsters around here. It’s the “cool” cheap beer. I figure if I’m going to add to the beer belly, it might as be with quality beer rather than swill!
Pabst, haven’t had one of them in 20 years. Didn’t like them when I was a kid, didn’t realize they still made them. Maybe we can get the brewery and make new Pabst, you know like new coke, on second thought that coke failed.
I actually just started drinking Pabst this year (you know, cuz all the hipsters were doing it), and I must admit I like it. I’d totally be up for dishing out a few dollars for them.
A chance to be in on an American company with an American history.
If we actually do own the company I’ll be in for a lot more then $5 or $25.
Mc
More than likely it is legit, the only thing is what the large print giveth, the fine print takes away.
More than likely you are just a junior share holder with not voting rights and the beer may disappear if that move is not in the best interest of the company.
Definitely a crapshoot!