Molson Coors has struck a deal to acquire spirits-based, ready-to-drink (RTD) cocktail pioneer Atomic Brands, whose Monaco Cocktails entered the then-nascent space in 2012. The deal should come as no surprise, as it aligns with Molson Coors’ goals to expand its beyond beer portfolio, part of the Horizon 2030 plan CEO Rahul Goyal outlined earlier this year.
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.
Following the shooting at Molson Coors’ Milwaukee plant Wednesday that left six people, including the gunman, numerous beer industry professionals, politicians, athletes and more posted reactions to the incident. Here’s a running list of those sentiments.
Molson Coors Beverage Company reported nearly $10.6 billion in net sales for 2019, a decline of 1.8% compared to 2018. In a press release, Molson Coors Beverage Company president and CEO Gavin Hattersley called 2019 “a challenging year” for the company.
The parent company of Brizzy Seltzer Cocktails has filed a lawsuit against Molson Coors Beverage Company in U.S. District Court for the Western District of Texas, alleging that the second largest U.S. beer manufacturer’s Vizzy Hard Seltzer name “is nearly identical to Brizzy in sight, sound and appearance” and infringes upon its trademark.
Stoudts Brewing Company will cease operations at the end of the winter, as founder Carol Stoudt retires after 33 years, according to a press release. The California Bureau of Alcoholic Beverage Control has suspended San Francisco-based Seven Stills Brewery and Distillery’s operating license for 90 days for violating the state’s tied house laws, according to a report from SFGate.com.
Sunday’s Super Bowl between the Kansas City Chiefs and San Francisco 49ers in Miami marks the first major beer-drinking occasion of 2020. In 2019, U.S. consumers spent $1.2 billion on beer at off-premise retailers in the two weeks leading up to the game between the Los Angeles Rams and New England Patriots, according to market research firm Nielsen. Those sales were roughly flat, though, down 0.5%, compared to 2018.
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.
