Oasis Beverages, a Russian food and beverage company owned by Eugene Kashper, announced it has entered into an agreement to acquire Pabst Brewing Company. TSG Consumer Partners, an investor in growth-oriented consumer brands, will acquire a minority stake in Pabst as part of the transaction.

“Pabst Blue Ribbon is the quintessential American brand – it represents individualism, egalitarianism, and freedom of expression – all the things that make this country great,” Kashper said for a press release. “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. We intend to invest meaningfully in the organization, to continue strong marketing support for PBC’s unique brands, and to drive new product innovations and renovations, such as the recent launch of Ballantine IPA.”

Kashper will serve as the CEO of PBC and the company’s headquarters will remain in Los Angeles, California.

Brian Krumrei, managing director at TSG, said “Pabst has a strong portfolio of authentic American brands including Pabst Blue Ribbon, Rainier, Lone Star, Old Style, Schlitz and National Bohemian, among others. We’re excited about the partnership with Eugene and the outlook for Pabst going forward.”

Dean Metropoulos announced in March he was seeking a new owner for Pabst, and hoped to sell it for between $500 million and $1 billion, according to some estimates. Terms of the transaction were not announced.

Pabst was founded in Milwaukee in 1844 by Jacob Best and later sold to beer tycoon Paul Kalmanovitz. The company was later left in a charitable foundation after Kalmanovitz’s death until a judge declared that it had to be sold. Metropoulos, who works with his sons Daren and Evan, bought Pabst from Kalmanovitz Charitable Foundation in 2010 for $250 million.

Kashper, a graduate of Columbia University, began his career in the beer industry in 1994 with The Stroh Brewery Co. Since then, he has managed brewing companies in Eastern Europe and the former Soviet Union. He founded Oasis Beverages in 2008 and currently serves as chairman, according to a company biography.

Pabst Brewing’s portfolio includes such brands as Pabst Blue Ribbon, Lone Star, Rainier, Ballantine IPA, Schlitz, Old Style, Stroh’s and Old Milwaukee.

It seems like rumors that Anheuser-Busch InBev would manage a takeover of SABMiller started just about the time the ink dried on the deal in which InBev bought out Anheuser-Busch in 2008. But things have heated up of late, with new rumors everywhere.

The Wall Street Journal, and now others report that AB InBev has been talking with banks about financing a megadeal that could coast $122 billion. That would be considerably more than the $52 billion it cost InBev to acquire A-B.

AB InBev had a nearly 20% share of the global beer market in 2013, while SABMiller had 9.6% share and and Heineken 9.3%.

The Journal reported that although a tie-up between the world’s two biggest brewers would put control of nearly one-third of global beer supply with one company, analysts say antitrust issues aren’t insurmountable. AB InBev would likely have to sell SABMiller’s stakes in two joint ventures, MillerCoors in the U.S. and CR Snow in China. Until those matter are sorted out making lists of which brands the new brewing giant would control is pure conjecture.

AB InBev has a history of reshaping the beer industry with large-scale acquisitions. In 2004, Brazil’s AmBev and Belgium’s Interbrew merged to create the global No. 1 brewer by volume. Four years later, the new company bought Anheuser-Busch and became AB InBev. The AB InBev management team trimmed billions of dollars off those brewers’ annual operating costs, helping to pay off the large debt that AB InBev took on to finance the deals.

Heineken has turned down SABMiller’s offer to acquire the its company and said it intends to remain independent. SABMiller’s bid was rejected by the family that controls Heineken, Bloomberg News reported. The offer, made in the last two weeks, would have made the family one of the combined company’s largest holders, one source said.

“For SAB, a way of preserving their independence is to buy Heineken,” Matthew Beesley of Henderson Global Investors Ltd. told Bloomberg News “It’s easy to underestimate the desire for management teams to be in control of their own destiny rather than to sell their business at a very high price.”

SABMiller has been the subject of speculation that AB InBev will attempt to take it over. Acquiring Heineken would help assure its independence as well as adding more than $25 billion in sales and bolster its presence in emerging markets such as Africa and Mexico.

Brew Hub has announced plans to build its next brewery in Chesterfield, Mo., just west of St. Louis. The brewery will be Brew Hub’s corporate headquarters and the second in a network of five state-of-the-art breweries the company is planning to build. Brew Hub’s first brewery opened last month in Lakeland, Fla.

Brew Hub had introduced what it calls “partner brewing.” It allows craft breweries to brew their beer to exact specifications under the supervision of their own brewmaster, and to package and distribute from Brew Hub. Brew Hub also offers its partners services including sales, marketing, logistics, legal, and government affairs.

“The announcement of our second craft brewery is a huge milestone for Brew Hub, and it’s a reflection of the incredible growth of craft beer over the past several years,” said Tim Schoen, founder and CEO of Brew Hub. “Our objective from the beginning was simply to help craft brewers grow by offering the facilities, brewing and beer industry expertise they need. Our St. Louis brewery is going to allow many more craft brewers to benefit from our model.”

The St. Louis brewery will be located off I-64 in Chesterfield, and will have an initial brewing capacity of 75,000 barrels and the potential to expand its capacity to 200,000 barrels annually. Brew Hub plans to begin construction of the St. Louis brewery by the end of the year and open the brewery in early 2016. The agreement to build Brew Hub’s St. Louis brewery is contingent upon the approval of state and local tax incentives.

“Brew Hub’s decision to build their second craft brewery in Chesterfield is a huge economic win for the entire St. Louis region,” said Denny Coleman, CEO of the St. Louis Economic Development Partnership.

The brewery will feature a 3,000-square-foot tasting room and biergarten. The brewery also will offer merchandise and free brewery tours. Brew Hub will employ approximately 55 people at its St. Louis brewery in brewing, operations, front office and its tasting room.

“We have had meetings and are negotiating partnerships with some of the top craft breweries in the Midwest,” said Schoen. “Our St. Louis brewery is going to allow these brewers to expand to new states and grow their brands like never before, and we couldn’t be more excited.”

Brew Hub currently has partnerships with several breweries, including Cigar City Brewing, Orange Blossom Pilsner, Green Man Brewing and BJ’s Restaurants. Brew Hub brews beer for all four companies at its brewery in Lakeland and is in discussions to begin brewing their beer at the St. Louis brewery when it opens.

Brew Hub plans to open three more breweries during the next five years. Specific markets will be determined based on demand, but the company is considering strategic locations in the Northeast, Mid-Atlantic, Texas and West Coast. This network of Brew Hub facilities will allow craft brewers from across the country to enter new markets.