Joe Hendrickson / Getty Images

Pabst Brewing Company has discontinued Schlitz Premium, a beer brand that traces its origins to a Milwaukee tavern in 1849 and was once the best-selling beer in the world. Pabst confirmed the discontinuation after Wisconsin Brewing Company announced it would brew a final batch of the beer at its Verona, Wisconsin, brewery on May 23.

"Unfortunately, we have seen continued increases in our costs to store and ship certain products and have had to make the tough choice to place Schlitz Premium on hiatus," Zac Nadile, Pabst head of brand strategy, said in a statement to Milwaukee Magazine. "Any brand or packaging configuration that is put on hiatus is still a cherished part of our history and hopefully our future."

Wisconsin Brewing brewmaster Kirby Nelson said he learned of the brand's discontinuation from Jerry Glunz, general manager of Louis Glunz Beer in Chicago, whose family has distributed Schlitz since the late 19th century, according to Milwaukee Magazine. Nelson said he wanted the brand to go out with "dignity and respect" and received permission from Pabst to brew a final batch.

The farewell batch will use a composite recipe built from brewing logs dating to 1948, when Schlitz was the top-selling beer in the world, according to Milwaukee Magazine. The beer will be available for pre-order on May 23 on Wisconsin Brewing's website, with a limited release scheduled for June 27.