Pds5 and Wpl1 act as anti‐establishment factors preventing sister‐chromatid cohesion until counteracted in S‐phase by the cohesin acetyl‐transferase Eso1. However, Pds5 is also required to maintain sister‐chromatid cohesion in G2. Here, we show that Pds5 is essential for cohesin acetylation by Eso1 and ensures the maintenance of cohesion by promoting a stable cohesin interaction with replicated chromosomes. The latter requires Eso1 only in the presence of Wapl, indicating that cohesin stabilization relies on Eso1 only to neutralize the anti‐establishment activity. We suggest that Eso1 requires Pds5 to counteract anti‐establishment. This allows both cohesion establishment and Pds5‐dependent stable cohesin binding to chromosomes.