There's TERRIBLE news today for hipsters, steel workers, and everyone in between: Pabst Blue Ribbon is on the verge of going EXTINCT.
Here's what's going on. Pabst has something called a contract brewing deal with MillerCoors, where MillerCoors brews, packages, and ships its beer. Pabst, and other smaller companies, just don't have the infrastructure to do that themselves.
Pabst's deal with MillerCoors started in 1999 and is scheduled to end in December of 2020 . . . and MillerCoors says they'll only renew it for almost TRIPLE the price.
The only other company that could handle Pabst's needs is Anheuser-Busch, but they don't do contract brewing.
And Pabst says it has proof that MillerCoors is trying to extort them with the new deal because it will put Pabst out of business, so MillerCoors can grab a bigger market share.
So Pabst is suing MillerCoors to keep their contract deal. The trial is going on in Milwaukee right now, and it's scheduled to last until the end of the month.
And if Pabst loses . . . well, it seems like they won't have any choice but to go out of business.
(AP / The Takeout)