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petitioned the Court. At all relevant times, petitioner was
principally engaged in the brewing and sale of malt beverages
(beer). Its brands of beer were: (1) Pabst Blue Ribbon,
(2) Andeker, Pabst Extra Light, (3) Red, White & Blue,
(4) Burgermeister, (5) Blitz-Weinhard, (6) Henry Weinhard Private
Reserve and Bohemian beers, and (7) Olde English 800 Malt Liquor.
Its brewing facilities (with annual capacity) were situated in:
(1) Milwaukee, Wisconsin (5.5 million barrels), (2) Newark, New
Jersey (2.5 million barrels), (3) Perry, Georgia (5.0 million
barrels), and (4) Portland, Oregon (2.0 million barrels).1
During the 1970's and 1980's, the brewing industry was
dominated by Miller Brewing Co. (Miller) and Anheuser Busch, Inc.
(Anheuser Busch), two large brewers that continued to expand
their operations and grow rapidly during these years. Smaller
breweries generally became obsolete because they were unable to
compete with Anheuser Busch, Miller, and other large brewers from
a cost-effective or profitability point of view. Many of the
smaller breweries were forced to liquidate, selling their
brewing-related assets to other breweries at fire-sale prices, or
1 The parties in their stipulation of facts sometimes refer
to the brewery in Georgia as situated in the City of Pabst. We
have looked at a map of Georgia, and we are unable to find any
city in Georgia named Pabst. We believe that the parties have
mistakenly referred to the City of Perry as "Pabst", and we
proceed on that belief. We note, however, that our belief has no
bearing on our holdings herein.
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