PBR On The Block?
One of the now trendy beer brands, Pabst Blue Ribbon may be for sale. PBR has made a big comeback, especially with college age and younger beer drinkers as one of those retro brand beers, and sources say they are looking for a buyer.
"(Reuters) - Veteran food industry investor C. Dean Metropoulos is seeking a new owner for Pabst Brewing Co, best known for blue collar-turned-hipster favorite Pabst Blue Ribbon label, people familiar with the matter said.
Los Angeles-based Pabst, whose beer and malt liquor labels also include Schlitz and Old Milwaukee, has hired boutique investment bank Perella Weinberg Partners to assist with the effort, the people said on Saturday.
While the sale process is still at an early stage and detailed financial information is not available, Pabst is expected to fetch between $500 million and $1 billion, some of the people said.
All the people asked not to be named because the process is confidential. Representatives for Metropoulos, Pabst and Perella Weinberg could not be immediately reached for comment."
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