Word: uihleins
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Dates: during 1970-1979
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Hurt by the drives of Miller and Anheuser, the sales of Milwaukee-based Schlitz slipped last year from 24.2 million bbls. to 22.1 million, and pretax profits plunged from nearly $97 million to $35 million. The Uihlein family (pronounced Ee-line), which controls 75% of the stock, is squabbling over methods to recoup. Chairman Daniel McKeithan Jr., an Uihlein in-law before his divorce in 1974, has brought in some outside executives and is seeking a new advertising agency to change the company's cheap-beer image. Schlitz is also thought by some to be for sale; merger talks...
...Uihlein family of Milwaukee saw the value of its 80% holding in Jos. Schlitz Brewing Co. rise about $500 million during 1972, to a year-end total of roughly $1.3 billion. The fortune is divided among some 420 holdings by Uihleins, spouses, children and family trusts, but the biggest block-a bit more than 20% of the company, worth roughly $346 million-is under the control of Chairman and President Robert A. Uihlein Jr., 56, grandson of the nephew of Founder August Krug. Uihlein took over the company in 1961, when its rank in the beer business was slipping...