10 percent of overall Stroh sales. In early 1995, William Henry assumed Peter Stroh's CEO position to become the first non-Stroh family member to hold that position for the company. The following year Stroh finally landed a long-sought-after target when it acquired the G. Heileman Brewing Company of La Crosse, Wisconsin for about $290 million. The purchase brought more than 30 brands to the Stroh family, many recently acquired by Heilman during the intense industry consolidation still underway, including Colt 45 malt liquor, which when combined with Schlitz Malt Liquor, gave Stroh more than half of the malt liquor market. Stroh had borrowed heavily to grow, and while it increased its market share, it had not increased its cash flow in an increasingly declining market. In a bid for cash, Stroh Canada, was sold to Sleeman Breweries in Guelph, Ontario in 1999. Sleeman, a division of Sapporo Breweries, gained Canadian rights to manufacture and distribute a folio of brands which included Stroh's, Old Milwaukee and Pabst. An attempt to rejuvenate the core Stroh's brand in the US backfired, causing the steepest decline in American brewing history. Stock prices fell, and dwindling income had to be diverted to service an increasingly burdensome debt. Stroh's proved unable to withstand the pressures of the larger brewers and chose to sell off its labels rather than face bankruptcy. Acquisition The end finally came on February 8, 1999, when Stroh announced that the 149-year-old brewer was selling its labels to the Pabst Brewing Company and Miller Brewing Company. John Stroh III, now company president and chief executive, said of the decision to sell: "Emotionally, it was an extremely difficult one to make, knowing that it would impact our loyal employees, and recognizing that it would mean the end of our family's centuries old brewing tradition that had become, in essence, an important part of our identity." The Stroh family lost over $700 million, decimating its fortune. After the company's dissolution in 2000, some Stroh brands were discontinued, while others were purchased by other breweries. The Pabst Brewing Company acquired the most Stroh/Heileman brands. It currently produces Colt .45 malt liquor, Lone Star, Schaefer, Schlitz, Schmidt's, Old Milwaukee, Old Style (under contract with City Brewery, the original Heileman facility in La Crosse, WI), Stroh's, and St. Ides. The Miller Brewing Company got Mickey's Malt Liquor and Henry Weinhard's. Most other Stroh/Heileman brands disappeared after 2000. In