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Molson Coors Beverage Company’s overall business remained in the red as the company closed its 2024 fiscal year. However, the fourth quarter showed improvement over the double-digit declines reported in Q3, and leadership is confident the company can return to growth in 2025, according to Molson Coors’ earnings call today with investors and analysts.
Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
Tilray Brands is moving large-scale production from Revolver Brewing’s facility in Granbury, Texas, to other facilities, the company confirmed in a statement to Brewbound. Revolver’s Texas location “will continue to operate, focusing on unique and innovative brews, and the taproom will remain open.”
Both draft (-10%) and packaged beverage-alcohol (-14.9%) suffered double-digit volume declines in the on-premise on the night before Thanksgiving, according to market research firm BeerBoard.
Two former Boston Beer Company employees are pursuing a class-action lawsuit, alleging the Twisted Tea maker skirts Massachusetts law by paying departing workers $3,000, minus taxes, instead of “garden leave” or other compensation, while enforcing restrictive noncompetition agreements.
Yuengling is headed to Iowa and Wisconsin in 2026. The addition of new states for the U.S.’s oldest brewery was teased with cryptic billboards in both Midwestern states stating “The Drought Ends Soon.” The official news dropped Monday.
Tilray Brands’ approved reverse stock split is set to take effect Monday afternoon following the close of the market, the company announced last week. The 1:10 reverse split will reduce the number of shares of common stock of Tilray from 1.16 billion to 116 million.
Anheuser-Busch InBev’s will-they, won’t-they $700 million acquisition of party punch maker BeatBox is still awaiting an answer. However, Dan Wandel, Bump Williams Consulting chief strategy officer, indulged what a combination of the two companies would mean for high ABV (8% and up) and flavored beverage-alcohol.
Pike Brewing (Seattle, Washington) will close Pike Pub and Pike Fish Bar, both located at the city’s iconic Pike Place Market, it announced this week. Details of Molson Coors chief commercial officer Michelle St. Jacques’ separation from the company were laid out in a Form 8-K filing Thursday with the U.S. Securities and Exchange Commission.
The Siebel Institute of Technology, one of the leading brewing schools in the country, will leave Chicago and move to Montreal on January 1, it announced Thursday.
Tilray Brands CEO Irwin Simon’s visits to college campuses and venues across the U.S. “suggest there’s more price sensitivity” influencing the decline in consumption.
BeatBox, the cross-category party punch producer, is reportedly discussing a potential acquisition with Anheuser-Busch InBev (A-B), according to a story by the Wall Street Journal. Citing unnamed “people familiar with the matter,” the WSJ estimated the deal at $700 million, but couched that negotiations could “fall apart.”
Craft beer’s off-premise losses accelerated in October, according to the most recent monthly report from market research firm Circana. In multi-outlet grocery, mass retail and convenience stores (MULO+C), craft’s dollar sales have declined 4.5% and volume, measured in case sales, declined 6% year-to-date (YTD) through November 2, according to Circana.
The top growth beer brand in the on- and off-premise right now isn’t an innovation product designed by an R&D team that religiously studies consumer trends. It’s a non-Mexican import that was founded in the 18th century: Diageo-owned Guinness.
Halloween is officially logged in bev-alc scan data and there’s no reason to be afraid, Circana EVP of BevAl Scott Scanlon wrote. During the week ending November 2, total beverage-alcohol dollar sales declined 2.3% year-over-year (YoY), but increased 4% week-over-week (WoW).
Diageo has tapped Sir Dave Lewis to lead the Guinness parent into its next chapter, ending a months-long search following former CEO Debra Crew’s departure in July.
Molson Coors president and CEO Rahul Goyal has plenty on his plate in his first month in the top spot, having taken over for Gavin Hattersley in October, but he’s added one more responsibility to his list: Beer Institute (BI) board chairman.
