Adolph Coors yesterday announced that its Coors Brewing arm will pay $65 million for a 49.9% stake in a venture to import, market, sell and distribute the beers of Canada’s Molson across the USA.
The USA’s third largest brewer, Coors will also acquire the use of Molson’s production capacity to help fulfil US demand for its beers. Its Keystone Light brand may be the first to be involved.
The Canadian brewer will produce its Molson Canadian, Molson Golden and Molson Ice brands for export to the US. Future brands may also follow suit.
News source: Wall Street Journal