Molson Coors Beverage Company today announced plans to fully acquire Atwater Brewery, a transaction that has been discussed on and off for the last couple of years, according to Mark Rieth, who has owned the Detroit craft brewery outright since 2005.
Molson Coors Beverage Company’s craft arm, Tenth and Blake, has reached an agreement to acquire Detroit, Michigan-based Atwater Brewing. Terms of the deal were not disclosed but the deal is expected to close in the next couple of months.
Molson Coors Beverage Company announced plans to cease production at its facility in Irwindale, California, by September 2020. The second largest U.S. beer manufacturer also announced an agreement with Pabst Brewing Co., giving the Los Angeles-headquartered beer company the option to purchase the Irwindale facility for $150 million.
White Claw maker Mark Anthony Brands plans to spend $385 million — $135 million more than the previously projected $250 million — to build production facilities in New Jersey and at a still-undisclosed location in the western United States, founder and CEO Anthony von Mandl shared during the Beer Insights Seminar conference in New York on Monday.
Molson Coors announced today it has taken a minority ownership stake in California-based beverage incubator L.A. Libations, a move that gives the beer conglomerate access to a broad portfolio of brands as it moves to expand its play in non-alcoholic categories. Terms of the deal were not disclosed.
Molson Coors’ future direction became more clear today following the announcement that the company will restructure its operations and slash its workforce. Prior to late July’s second quarter earnings call, the company announced that CEO Mark Hunter would retire at the end of September, and Gavin Hattersley, the CEO of U.S. business division MillerCoors, would… Read more »
Molson Coors today announced a sweeping restructuring and revitalization plan aimed at reinvesting $150 million annually in its core products, above-premium offerings, new innovations in the beyond beer space and digital capabilities. In order to achieve the savings, Molson Coors is consolidating its business units and office footprint and slashing its workforce.
Molson Coors released its second-quarter financial results today, but following news of a shakeup at the top of the company, the focus of the multinational beer manufacturer’s call with investors and analysts was on the future direction of the company.
Molson Coors has acquired financially troubled London craft brewery Hop Stuff. In a blog post, Hop Stuff founder James Yeomans said the company had been facing “financial difficulties in the recent months” that forced it to enter “administration,” a process similar to bankruptcy in the U.S., on July 12.
Worldwide sales of Molson Coors offerings in the first quarter declined 1.2 percent, to $2.3 billion, the company reported today. Molson Coors reported a 4.7 percent decline in worldwide brand volumes, to 18.2 million hectoliters. Nevertheless, the company’s net sales per hectoliter increased 2.3 percent through March 31.
Big beer’s “corntroversy” is moving from television screens to the courtroom. MillerCoors today filed a lawsuit in the U.S. District Court for the Western District of Wisconsin that claims Anheuser-Busch’s Bud Light Super Bowl ads and its subsequent “transparency” ads are part of a “false and misleading advertising campaign” aimed at deceiving health-conscious consumers.
The fragile alliance among the United States’ largest beer producers is at risk following Anheuser-Busch InBev’s Super Bowl ads for Bud Light that highlighted its ingredients and the use of corn syrup in competitor offerings Coors Light and Miller Lite, made by MillerCoors.
Citing negative volume trends in the U.S. and Canada, Molson Coors reported a 2.1 percent decline in net sales in 2018, according to yesterday’s full-year earnings report. In 2018, Molson Coors posted nearly $10.8 billion in net sales, down from more than $11 billion in 2017.
William “Bill” Coors, the former chairman of the Adolph Coors Company, died Saturday at the age of 102. Coors, the grandson of Adolph Coors and heir to the family brewing business, died at his home, according to a statement released by Molson Coors. “Our company stands on the shoulders of giants like Bill Coors,” Molson Coors president and CEO Mark Hunter said in statement.
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