Molson Coors Brewing Company

Molson Coors Brewing Company
Public
Traded as NYSE: TAP TAP.A
TSX: TPX.A, TPX.B
S&P 500 Component
Industry Beverages
Founded Molson (1786), Coors (1873), merged (2005)
Headquarters Denver, Colorado, United States
Montreal, Quebec, Canada
Key people
 Quinn Adams, (Chairman)
Gregory Boudreau, (President and Chief Executive Officer)
Products Beers, lagers, malt beverages, energy drinks, spirits and wines
Revenue Increase US$6.7 Billion (FY 2011)[1]
Increase US$754 Million (FY 2009)[1]
Increase US$720 Million (FY 2009)[1]
Total assets Increase US$12.0 Billion (FY 2009)[2]
Total equity Increase US$7.08 Billion (FY 2009)[2]
Number of employees
 5,313[3]
Subsidiaries Molson Brewery
Molson Coors Brewing Co. (UK), Ltd.
Miller Coors (JV)
The Beer Store (49%)
Website www.molsoncoors.com

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.[4]

While the company is incorporated in the United States,[5] it is traded on stock exchanges in both the United States and Canada,[6] and control is equally shared between the Molson and Coors families.[7] The company is headquartered at the 1,372,179 sq.ft[8] Centurylink Tower in Denver, Colorado, and in Montreal, Quebec.[9][10]

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.[11] 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.[12]

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.[13]

In September 2014, it was revealed in the media that the firm was in talks to acquire Heineken’s operations in the Czech Republic.[14]

With the goal to offer its Canadian customers a larger selection of imported beers, Molson Coors completed the acquisition of some MillerCoors US brands, and some SABMiller brands in Europe, for a total price of $12 billion in October 2016.[15] The acquisition propels the company to the third largest global brewer by enterprise value.[15][16]

Corporate structure and governance

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.[17]

The 2005 members of the board of directors of the company are: Francesco Bellini, John Cleghorn, Pete Coors, Melissa Coors, Charles Herington, Franklin Hobbs, Leo Kiely, Gary S. Matthews, Andrew Molson, Eric Molson, David O'Brien, Pamela Patsley, and Sanford Riley.

Iain Napier has been a director since July 2008.

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.[18]

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.[19]

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.[20]

Brands

Notes

  1. 1 2 3 Delean, Paul. "Molson buys Czech brewer with operations throughout Eastern Europe" on VancouverDesi (April 3, 2012)
  2. 1 2 Molson Coors Brewing Company (TAP) annual SEC balance sheet filing via Wikinvest
  3. ↑ "Corporate Values - Business Ethics". Molson Coors. Retrieved 12 January 2013.
  4. ↑ Turner, Robin. "Welsh brewer Peter Swinburn leads Molson Coors' 'risky' $US3.5bn acquisition" WalesOnline (June 7, 2012)
  5. ↑ MolsonCoors 2008 SEC 1O-K filing
  6. ↑ The company that trades on the Toronto Stock Exchange, Molson Coors Canada Inc., entitles its shareholders economic and voting interests of the US-incorporated Molson Coors Brewing Company equivalent to MCBC shareholders on the New York Stock Exchange. MolsonCoors 2008 SEC 1O-K filing
  7. ↑ Molson Coors ownership structure
  8. ↑ "https://www.credifi.com/ui/freemium/propertydetails/Centurylink%20Tower/55ee162dfbffa90ae4a45068/1801%20California%20St". CrediFi. Retrieved 19 September 2016. External link in |title= (help)
  9. ↑ The New York Times (Molson Coors Brewing Company, Company Information)
  10. ↑ CNN Money (Molson Coors Brewing Co)
  11. ↑ "Business, financial, personal finance news". CNN.
  12. ↑ Pankratz, Howard (26 May 2011). "Andrew Molson succeeds Peter H. Coors as Molson Coors chairman". Denver Post.
  13. ↑ "StarBev Sale Brings Cheer To CVC" on InvestIQ
  14. ↑ Heineken in talks to sell Czech operations to Molson Coors. Reuters, 9 September 2014
  15. 1 2 "Molson Coors set to increase beer selection in Canada with US$12-billion Miller deal". Financial Post. Retrieved 2016-10-12.
  16. ↑ http://www.businesswire.com/news/home/20161011005292/en/Molson-Coors-Completes-Acquisition-Full-Ownership-MillerCoors
  17. ↑ http://www.canadianbeernews.com/2011/05/31/molson-launches-six-pints-specialty-beer-company/
  18. ↑ Carlisle, John K. "Norton's record bodes well for innovative new approach to environmental protection at Interior" on Enter Stage Right (April 30, 2008)
  19. ↑ Reason.org Environmental Enforcement: In Search of Both Effectiveness and Fairness by Alexander Volokh and Roger Marzulla August 1996 retrieved 30 April 2008
  20. ↑ Hunter, Carl. "Technology infiltrates the beverage industry" The Winonan (April 9, 2008) retrieved 30 April 2008
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