Word: heileman
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Dates: during 1980-1989
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...partners, adding yet more turmoil to the churning industry. Pabst Brewing Co. of Milwaukee, once a leading brewer, has spent the past two months trying to merge with Olympia Brewing Co. of Washington State, while in the process having to fend off takeover attempts by the Wisconsin-based G. Heileman Brewing Co., as well as legal attacks by a dissident Pabst shareholder, Irwin Jacobs. Meanwhile, the Stroh Brewery Co. of Detroit, which acquired New York City's F. & M. Schaefer Co. in 1981, is still struggling to digest its latest takeover victim, the venerable Jos. Schlitz Brewing...
Among the handful of regional brewers actually to have prospered in recent years is G. Heileman Brewing Co. of La Crosse, Wis. The company jumped from 15th to fourth in the industry during the past decade by buying up old regional brands like Grain Belt, Rainier and Black Label, and running them more efficiently than had their previous owners. So far, the brewer's attempt to expand nationally by taking over Pabst has been stymied by the Milwaukee firm's defensive maneuvers to fend off acquisition. Moreover, the Justice Department has threatened antitrust action against the takeover because...
...fact, last week, even as the new regulations were going into effect, the Justice Department announced that it would move to block the G. Heileman Brewing Co. of La Crosse, Wis., from acquiring Pabst Brewing of Milwaukee. It was the second time in the past year that the department had refused to permit Heileman, the fourth largest American brewer, to take over another beer company. In October, Washington stopped its drive to acquire the Jos. Schlitz Brewing Co. Last week the Justice Department ruled against Heileman's offer to pay $24 per share for Pabst, the fifth largest...
...result, Schlitz is more vulnerable to takeover than a cold six-pack on a hot Saturday night. Last year it was approached by another famous Milwaukee name, Pabst, as well as by the G. Heileman Brewing Co. of La Crosse, Wis., a scrappy firm that has built itself into the fourth largest company in the industry by buying up regional brands. The Pabst bid, though, never went anywhere, and the Justice Department blocked Heileman's acquisition on antitrust grounds...
...case, he admitted straight forwardly that "it is perfectly clear that IBM obtained its very large market share in an entirely legal way." But one cannot charge him with being soft on big business; the AT&T settlement was entirely his doing, and his opposition recently prevented the G. Heileman Brewing Company from buying Schlitz. Perhaps more importantly, Baxter has showed his willingness to go after serious business improprieties such as price fixing not only with civil legislation, as has commonly been done, but also by pressing criminal charges...