The Molson Coors Brewing 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.
While the company is incorporated in the United States, it is traded on stock exchanges in both the United States and Canada, and control is equally shared between the Molson and Coors families. The company is headquartered at the 54-story 1,372,179-square-foot (127,479.6 m2) 1801 California Street (CenturyLink Tower) in Denver, Colorado, with 67,000-square-foot (6,200 m2) office areas, which are located on the 45th, 46th and part of the 47th floors in the tower.
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.
Video Molson Coors Brewing Company
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 market all of their products. MillerCoors is headquartered in Chicago, Illinois.
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.
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.
In September 2014, it was revealed in the media that the firm was in talks to acquire Heineken's operations in the Czech Republic.
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."
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) 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.
In Canada, Molson Coors regained the right to make and market Miller Genuine Draft and Miller Lite.
After SABMiller divested itself of all interests in MillerCoors, then Molson Coors became the largest brewer in the U.S.
Maps Molson Coors Brewing Company
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.
Since October 11, 2016, MillerCoors has been the US business division of Molson Coors.
Management team
As of January 2017, the management consisted of the following:
- Mark Hunter, president and chief executive officer
- Brenda Davis, chief integration officer
- Celso White, global chief supply chain officer
- Frederic Landtmeters, president and chief executive officer, Molson Coors Canada
- Gavin Hattersley, president and chief executive officer, MillerCoors division
- Kandy Anand, chief growth officer
- Tracey Joubert, global chief financial officer
- Michelle Nettles, chief people and diversity officer
- Sam Walker, global chief legal and corporate
- Simon Cox, president and chief executive officer, Molson Coors Europe
- Stewart Glendinning, president and chief executive officer, Molson Coors International
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.
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.
Although Molson Coors said they did not know about 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.
Notes
External links
- Molson's Canada
- Coors Brewing Company (U.S.)
- Coors Brewers Limited (UK)
- Molson Coors Corporate Website
- Official Coors Light Website
Source of article : Wikipedia
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