Pabst Brewing Exploring Potential Sale of the Company.Business Editors SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Texas--(BUSINESS WIRE)--Nov. 6, 2003 Pabst Brewing Company announced today that it has commenced a process to explore strategic alternatives, including a potential sale of the company. The company has hired Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co. as its financial advisor with respect to the sale process. There is no assurance that this process will lead to the consummation of a sale of the company. Pabst is wholly owned by the Kalmanovitz Charitable Foundation which is required by tax law to divest the company by mid-2005. Pabst is the nation's fourth largest brewer and is headquartered in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. . The company's portfolio of beers includes national brands such as Pabst Blue Ribbon blue ribbon denotes highest honor. [Western Folklore: Brewer Dictionary, 127] See : Prize , Colt 45, Schlitz Malt Liquor, and Old Milwaukee Old Milwaukee is an American lager-style beer currently brewed under contract by Miller Brewing Company, and owned by Pabst Brewing Company. The Old Milwaukee marquee is used by a vast family of products which includes Old Milwaukee, Old Milwaukee Light, Old Milwaukee Ice, and Old , as well as a number of strong regional brands, including Old Style, Special Export, Rainier, Lone Star, Stroh's, Schmidt, Schaefer, Olympia, Blatz, and Stag. Pabst Brewing Company operates as a "virtual brewer," outsourcing all of its production under a long term contract. Recently, the company has experienced resurgence in some of its flagship brands, in particular Pabst Blue Ribbon, with consumers due to its unique grass roots marketing approach. Other regional brands and Colt 45 have shown improved results as well. |
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