Classic canned beers including Pearl Light, Schlitz, and Lone Star are available at Mother Truckers in Dallas, TX on May 9, 2015.

Classic canned beers including Pearl Light, Schlitz, and Lone Star are available at Mother Truckers in Dallas, TX on May 9, 2015.

Alexandra Olivia/Special Contributor

Hipsters in Texas and beyond, rejoice.

Beer giants MillerCoors and Pabst have settled a dispute that threatened the existence of staple brands such as PBR and Lone Star. The companies announced Thursday they "amicably resolved all outstanding issues in the case," which centered around a contract brewing agreement set to expire in 2020. 

"Pabst will continue to offer Pabst Blue Ribbon and the rest of our authentic, great tasting and affordable brews to all Americans for many, many years to come," a Pabst spokesman added.

Earlier this month, Pabst Brewing Co. sued MillerCoors, which contract brews several beers on Pabst's behalf. NPR explains:

"MillerCoors was trying to terminate the 20-year arrangement when the current contract runs out two years from now -- but Pabst balked at that idea, saying the contract includes options for an extension. The company filed suit, daunted by the task of keeping PBR, Schlitz, Old Milwaukee, Colt 45 and other beers in the market without MillerCoors brewing them...

"In the clash, MillerCoors said it no longer made financial sense to brew for Pabst. In its suit, Pabst said MillerCoors was essentially trying to put it out of business."

A jury was on their second day of deliberation on the case when the settlement was reached, NPR reports.

Other Pabst brands include Olympia, Pearl, Stroh's, and Rainier. 

What's Happening on GuideLive