Pabst Brewing analyzes feasibility of a sale to comply with law

SAN ANTONIO (AP) -- Pabst Brewing Co., one of the nation's largest beer marketers, said Thursday that it may soon put itself up for sale.
Pabst, based in San Antonio, said it has hired the investment bank Merrill Lynch & amp; Co. to look into the feasibility of a sale.
The company is now wholly owned by the Kalmanovitz Charitable Foundation, set up after the death of brewery magnate Paul Kalmanovitz, who bought the company in 1985.
But Pabst spokesman Sam Singer said the federal tax law requires that the charitable foundation sell Pabst by mid-2005 if it obtains a reasonable offer. If a suitable buyer cannot be found by that date, he said, the foundation's ownership can be extended.
Pabst, founded in Milwaukee in 1844, is the nation's fourth largest beer company, selling more than 25 labels. Among its best-known names are flagship Pabst Blue Ribbon, Old Milwaukee, Schlitz, Lone Star, Pearl, Colt 45 and Stroh's.
The company does not own any brewing plants of its own. Instead, Pabst has long-term contracts with large breweries to produce its beers.