Molson Coors Brewing Company

Molson Coors Beverage Company

File:Molson Coors logo.svg
Type	Public
Traded as	NYSE: TAP.A (Class A) NYSE: TAP (Class B) S&P 500 component (TAP)
Industry	Beverages
Founded	Molson (1786), Coors (1873), merged (2005)
Headquarters	Chicago , Illinois, USA
Key people	Pete Coors, (Chairman) Geoff Molson, (Vice chairman) Mark Hunter, (President and CEO)
Products	Beers, lagers, malt beverages, energy drinks, spirits and wines
Revenue	US$4.8 billion (2016)[1]
Operating income	US$521.8 million (2015)[1]
Net income	US$359.5 million (2015)[1]
Total assets	US$12.2 billion (2015)[1]
Total equity	US$7.0 billion (2015)[1]
Number of employees	17,200 (2017)[2]
Subsidiaries	Molson Brewery Coors Brewing Company Miller Brewing Company The Beer Store (49%)
Website	MolsonCoors.com

The Molson Coors Beverage Company is a multinational brewing company, formed in 2005 by the merger of Molson of Canada, and Coors of the United States. It is the world's seventh largest brewer by volume.^[3]

While the company is incorporated in the United States,^[4] it is traded on stock exchanges in both the United States and Canada,^[5] and control is equally shared between the Molson and Coors families.^[6] The company is headquartered at 1801 California Street, a 1,372,179-square-foot (127,479.6 m²), 53-story building formerly known as the Transamerica Tower in Denver. It occupies 67,000-square-foot (6,200 m²) of space located on the 45th, 46th and part of the 47th floors of the structure.^[7][8]

Molson Coors expanded significantly after the merger of Anheuser-Busch InBev and SABMiller in October 2016. This was achieved because during the plans for the merger, SABMiller had agreed to divest itself of the Miller brands by selling its stake in MillerCoors to Molson Coors.^[9]

History

On 9 October 2007, SABMiller and Molson Coors Brewing Company announced a joint venture to be known as MillerCoors for their U.S. operations that will wholesale all of their products.^[10] MillerCoors is headquartered in Chicago.

On 2 February 2011, the company purchased Sharp's Brewery of Cornwall in England for around £20 million.

On 26 May 2011, seventh-generation family member Andrew Molson succeeded Pete Coors as acting Chairman of the company.^[11]

In early 2012 the company expanded into the Central and Eastern Europe markets by acquiring the region's market-leading brewery StarBev from CVC Capital Partners.^[12]

In September 2014, it was revealed in the media that the firm was in talks to acquire Heineken’s operations in the Czech Republic.^[13]

The company launched two e-commerce platforms for Blue Moon and Coors Light in 2019. The brand pages were the company's first purchased-enabled platforms.^[14]

On 30 October 2019, the company changed its name slightly to the Molson Coors Beverage Company and announced that the company's headquarters will move to Chicago. ^[15]

Molson Coors 2016 expansion

During the merger discussions between Anheuser-Busch InBev and SABMiller in 2015, the U.S. Department of Justice (DOJ) had agreed to proposed deal only on the basis that SABMiller "spins off all its MillerCoors holdings in the U.S.—which include both Miller- and Coors-held brands—along with its Miller brands outside the U.S." The entire ownership situation was complicated: "In the United States, Coors is majority owned by MillerCoors (a subsidiary of SABMiller) and minority owned by Molson Coors, though internationally it's entirely owned by Molson Coors, and Miller is owned by SABMiller."^[16]

SABMiller agreed to divest itself of the Miller brands by selling its stake in MillerCoors to Molson Coors. The merger between the two companies closed on October 10, 2016. The spinoff deal was completed on October 11, 2016.^[9] As per the agreement with the regulators, SABMiller sold to Molson Coors full ownership of the Miller brand portfolio outside of the U.S. and Puerto Rico for US$12 billion. Molson Coors also retained "the rights to all of the brands currently in the MillerCoors portfolio for the U.S. and Puerto Rico, including Redd’s and import brands such as Peroni, Grolsch and Pilsner Urquell." The agreement made Molson Coors the world's third largest brewer.^[17]

In Canada, Molson Coors regained the right to make and market Miller Genuine Draft and Miller Lite.^[18]

After SABMiller divested itself of all interests in MillerCoors, then Molson Coors became the largest brewer in the U.S.^[19]

Corporate structure

Molson Coors has a number of divisions and subdivisions.

The Molson Coors Canada division entered the craft beer market with the acquisitions of Creemore Springs Brewery and Granville Island Brewing, to create the Six Pints Specialty Beer Company, a subdivision that first was an umbrella for those brands and aiming to include other Molson-owned and affiliated brands.^[20]

Since October 11, 2016, MillerCoors has been the US business division of Molson Coors.^[21]

Management team

As of December, 2019, the management consisted of the following:

• Gavin Hattersley, President/Chief Executive Officer

• Adam Collins, Chief Communication and Corporate Affairs
• Simon Cox, President and CEO of Molson Coors Europe
• Kevin Doyle, President of U.S. Sales
• Brian Erhardt, Chief Supply Chain Officer
• Rahul Goyal, Chief Strategy Officer
• Tracey Joubert, Chief Financial Officer
• Fred Landtmeters, President, Molson Coors Canada
• Pete Marino, President of Emerging Growth
• Dave Osswald, Chief People and Diversity Officer
• Lee Reichert, Chief Legal and Government Affairs Officer
• Michelle St. Jacques, Chief Marketing Officer
• Robert McCann, VP Business Process & Systems Integration

Environmental record

The Molson Coors Brewing Company conducted a comprehensive, and voluntary investigation of its pollution and environmental emissions. Coors was not violating the Clean Air Act but was encouraged by the Environmental Audit Privilege and Voluntary Disclosure Act which immunizes and credits organizations for conducting environmental self-audits, which can grant immunity from environmental regulation fines.^[22]

The United States government had thought that Coors was a minor violator of emissions such as volatile organic compounds (VOCs), but the investigating showed otherwise, revealing that Coors was 17 times over the estimated value of emissions. Molson Coors then provided the audit results to the Colorado Department of Health which culminated in a $1.05 million fine for the 189 violations of state pollution laws.^[23]

Although Molson Coors said they did not know about the volatile organic compounds they were emitting, they do claim to be environmentally aware. Coors invented a new printing technology technique which uses ultra-violet light to cure the print, a technique which the company claims is more environmentally sound than the traditional gas firing technique.^[24]

In an in-depth analysis of the climate change "countermovement," the Coors Affiliated Foundation was listed among the top donors, having funded roughly 1% ($6.2 million USD) of all climate denial research conducted between 2003-2010.^[25]

Notes

External links

• Business data for Molson Coors Brewing Company:
  • Google Finance
  • Yahoo! Finance
  • Reuters
  • SEC filings
• Molson's Canada
• Coors Brewing Company (U.S.)
• Coors Brewers Limited (UK)
• Molson Coors Corporate Website

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