Dean Metropoulos\\\' Pabst Brewing seeks buyer

NEW YORK, Mar 3 (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.
One of the oldest breweries in the United States, Pabst is also considering an initial public offering as an alternative, two people added.