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Dean Metropoulos

Charles Dean Metropoulos[3] (Greek:Ντιν Μητρόπουλος; born May 1946[1] inTripoli, Greece[2]) is a Greek-American billionaire investor and businessman. He was the owner ofPabst Brewing Company, which was founded byJacob Best in 1844.[2][4] On theForbes 2020 list of the world's billionaires, he was ranked #875 with a net worth ofUS$2.6 billion.[5]

Dean Metropoulos
Metropoulos in 2015
BornMay 1946 (age 78–79)[1]
NationalityGreek American[2]
Alma materBabson College
Occupation(s)Chairman and CEO of C. Dean Metropoulos and Company
Known forHostess Brands andPabst Brewing Company
Children2

Early life

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Metropoulos was ten years old when he and his parents emigrated from Greece to the U.S.,[6] settling atWatertown, Massachusetts.[2]

Metropoulos has a bachelor's degree and an MBA fromBabson College, located inWellesley, Massachusetts.[7][8]

At age 25, he went toGeneva, Switzerland, to become a financial director forGTE International's (now Verizon) European, Middle Eastern, and African operations. Later he returned to the U.S. as the company's youngest controller.[2]

Career

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In 1981, Metropoulos made his first acquisition of Stella Foods Inc., a Vermont-based cheese company, which later sold toRobert Bass for $375 million.[9]

Some of the buy-build private equity transactions of Metropoulos have includedPinnacle Foods,Ghirardelli Chocolate Company,International Home Foods,Pabst Brewing Company, The Morningstar Group, Inc. (sold to Suiza Foods[10] which has becomeDean Foods), Solar Marine ("a private, European based, international dry cargo shipping company"[11]),Bumble Bee Foods,Vlasic Pickles, andMumm's/Perrier-Jouët champagnes.[12][9]

Metropoulos is the executive chairman andchief executive officer of C. Dean Metropoulos & Company. The company was founded in 1993 and is based in Greenwich, Connecticut.[13] As of 2011, C. Dean Metropoulos & Co. has been involved in over 72 acquisitions with over $12 billion in invested capital.[12] The company jointly ownedHostess Brands along withApollo Global Management.

In September 2014 American entrepreneurEugene Kashper, backed byTSG Consumer Partners, announced an agreement to acquirePabst Brewing from C. Dean Metropoulos & Co for $700 million.[14][15] The sale represented a gain of $550 million more than what the company paid for it in 2010.Bumble Bee Tuna is another brand owned by a company "bought and flipped" by the firm.[16]

On July 7, 2015 there were rumors of aHostess Brands IPO. Metropoulos stated that there was no plan for an IPO.[17] In July 2016, a Hostess IPO was announced.

In February 2021, Nestlé SA agreed to sell most of its North American bottled-water brands, including Poland Spring, Arrowhead and Pure Life, to Metropoulos & Co and One Rock Capital Partners LLC for $4.3 billion.[18]

Personal life

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Metropoulos lives inPalm Beach, Florida, with his wife[6] Marianne, who in 2011, was President and Principal of Aegean Entertainment, a movie production company in Beverly Hills. They are parents of sons Evan and Daren.[12] Daren purchased thePlayboy Mansion for $100 million in 2016.[19]

References

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  1. ^ab"Billionaires: Charles Dean Metropoulos". Wealth-X. Archived fromthe original on 2017-04-29. Retrieved2017-01-02.
  2. ^abcdeAnastasios Papapostolou."Metropoulos Sells Pabst Blue Ribbon to Russian Company". USA.GreekReporter.com. Retrieved2016-10-05.
  3. ^"AGs Urge Pabst to Lower Alcohol Content in Blast | NACS Online – Media – News Archive". Nacsonline.com. 2011-04-26. Retrieved2016-10-05.
  4. ^"Pabst is finally coming home: New Milwaukee brewery set to open in April".Milwaukee Journal Sentinel. Retrieved2018-04-13.
  5. ^"#962 C. Dean Metropoulos".
  6. ^ab"The World's Billionaires (2016 ranking): #722 C. Dean Metropoulos".Forbes. 1 March 2016. Retrieved2017-01-02.
  7. ^Cam, Deniz."What Should You Major In If You Want To Be A Billionaire?".Forbes. Retrieved2018-04-13.
  8. ^"Distinguished Entrepreneurs: C. Dean Metropoulos".Babson College. Archived from the original on 2018-06-16. Retrieved2022-11-09.
  9. ^abLattman, Peter; Kesmodel, David (26 May 2010)."Pabst's New Owner Built Fortune on Old Brands". Wall Street Journal. Retrieved22 October 2023.
  10. ^Lipin, Steven,"Suiza Foods to Buy Morningstar Group",Wall Street Journal, September 29, 1997. Retrieved 2017-01-15.
  11. ^"A Vision for the Future of Business" (conference program),Hellenic News of America, February 14, 2014. Retrieved 2017-01-15.
  12. ^abc"View events - Hellenic American Bankers Association". 2018-08-31. Archived fromthe original on 2018-08-31. Retrieved2024-02-13.
  13. ^"Company Overview of C. Dean Metropoulos & Co.",Businessweek, January 15, 2017,
  14. ^Covert, James (20 September 2014)."Pabst not moving to Russia".New York Post.
  15. ^"Pabst Brewing: We Will Remain an American Company | CSP Daily News". Cspnet.com. 2014-09-23. Retrieved2016-10-05.
  16. ^Leitereg, Neal J.,"Daren Metropoulos takes ownership of Playboy Mansion, Hef included",Los Angeles Times, August 27, 2016. Retrieved 2017-01-15.
  17. ^"Metropoulos & Co. | Hostess, Playboy Mansion, Daren Metropoulos". Darenmetropoulos.com. Archived fromthe original on 2015-07-09. Retrieved2016-10-05.
  18. ^Chaudhuri, Saabira (2021-02-17)."Nestlé to Sell Poland Spring, Pure Life and Other Water Brands for $4.3 Billion".Wall Street Journal.ISSN 0099-9660. Retrieved2021-02-25.
  19. ^Leitereg, Neal J. (2016-08-27)."Daren Metropoulos takes ownership of Playboy Mansion, Hef included".LA Times. Retrieved2016-10-05.

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