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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.”
Constellation Brands has once again promoted Mallika Monteiro. Last Friday, the New York-headquartered maker of Mexican import brands Corona, Modelo and Pacifico appointed Monteiro as executive vice president and chief growth and strategy officer. Meanwhile, Ceria Beverages, which makes THC-infused, non-alcoholic beers, has appointed Greg Miller as its first vice president of business development.
Constellation Brands will enter the booming hard seltzer category next spring with a Corona branded spiked seltzer, CEO Bill Newlands said during the company’s second-quarter earnings call Thursday.
California’s beer distribution system is being shaken up once again. Anheuser-Busch InBev announced Friday evening the planned acquisition of “key assets” from Markstein Beverage Co. in San Marcos, California. The company will add those assets to its existing wholly owned distributor, Anheuser-Busch Sales of San Diego.
Rearrange the blocks, or sell them? That’s the question that Craft Brew Alliance CEO Andy Thomas seemed to be working through in a rare off-cycle conference call with investors and analysts today after his company’s largest playmate, Anheuser-Busch InBev, declined its long-held option to purchase the Portland, Oregon-headquartered craft beer maker.
The awkwardness between Craft Brew Alliance and Anheuser-Busch InBev didn’t end last Friday when the world’s largest beer manufacturer passed on making a qualifying offer to purchase the company. CBA CEO Andy Thomas told Brewbound that the awkwardness has shifted from a will-they, won’t-they-get-married scenario, to one in which the question is if the two companies still want to live together now that they’re no longer engaged.
Call it a scoop. Call it a shill. Either way, Adam Schefter made news today about the relationship between the NFL and Anheuser-Busch InBev. Schefter, the ESPN NFL insider known for breaking the league’s biggest scoops via his Twitter account — including last weekend’s retirement of Indianapolis Colts quarterback Andrew Luck — announced this morning that Anheusr-Busch InBev-owned Bon & Viv is now the “Official Hard Seltzer Sponsor of the NFL.”
The deadline for Anheuser-Busch InBev to make a qualifying offer to acquire the remaining stake of Craft Brew Alliance (CBA) came and went today without an offer. The world’s largest beer manufacturer, which already owns 31.3 percent of the smaller Portland, Oregon-headquartered craft beer maker, had until today, August 23, to either make an offer for the remaining stake in the company at a minimum of $24.50 per share (about $328 million) or pay a $20 million fee.
Truly Hard Seltzer-maker Boston Beer Company announced today the nationwide launch of “Truly on Tap,” a new product that the company is calling ”one of the first hard seltzers available on draft” across the country. Boston Beer founder Jim Koch first teased the product, then called “Pure” — a name that competing brand White Claw also announced for a similar product — in January as an alternative for vodka soda drinkers in bars and restaurants.
In this week’s Last Call: Breakside Brewing Implements Employee Stock Ownership Plan; The Brewers Association Shares Brewery Employee Diversity Data; Guns N’ Roses and CANarchy Settle Lawsuit; Anheuser-Busch Rolls Out Bud Light College Branded Packaging.
Boston Beer Company is asking consumers to ditch their old alcoholic beverages and drink what they “Truly want” — hard seltzer. The company, which makes the Truly Hard Seltzer brand, today unveiled five, 15-second commercials featuring comedian and actor Keegan-Michael Key that are part of a national advertising campaign for the 100-calorie, 5 percent ABV seltzer. Those ads began airing today across television and all digital channels.
Just 14 days remain before Anheuser-Busch InBev’s deadline to make a qualifying offer to buy the remaining stake of Craft Brew Alliance, or pay a $20 million fee. The prospect of a qualifying offer of around $328 million (at a minimum price of $24.50 per share) from A-B, which already owns about 31 percent of CBA, was one of the main focuses of Thursday’s second-quarter earnings call.
Anheuser-Busch InBev is back in the craft beer M&A game. After a two-year hiatus following the May 2017 acquisition of Wicked Weed, the world’s largest beer manufacturer announced today the acquisition of Cleveland’s Platform Beer Co., a transaction that is expected to close in the third quarter.
Kona Brewing once again lifted Craft Brew Alliance’s (CBA) financial results. CBA shared its second-quarter financial results today, highlighted by portfolio-wide depletions (sales-to-retailers) growth of more than 1 percent, and shipment (sales-to-wholesalers) growth of 4.4 percent.
Anheuser-Busch InBev announced today the acquisition of fast-growing Ohio craft brewery Platform Beer Co. Financial terms of the transaction were not disclosed. In a press release, A-B noted that Platform was “the fastest growing regional brewery in the United States in 2017.” According to data from the Brewers Association, the Cleveland craft brewery increased production from 6,500 barrels to 20,000 barrels that year.
