Adolph Coors Co. and Molson, Inc. last week agreed to merge, creating a new company that will be the world’s fifth-largest brewer by volume, with combined sales of $6 billion.
The new company, Molson Coors Brewing Co., will have operating scale and financial strength to be a major player in the consolidating global brewing industry, the companies said. It will have executive headquarters in Denver, CO and Montreal, Quebec.
Eric H. Molson has been named chairman of the board of the combined company. W. Leo Kiely III, the current CEO of Coors, will be CEO. Daniel J. O’Neill, the current CEO of Molson, will be vice chairman-synergies and integration. Timothy V. Wolf, the CFO of Coors, will be CFO of the new company.
The combined company’s beverage portfolio includes Coors Light, Molson Canadian and Carling.
The deal combines Coors, the third-largest U.S. brewer with 11% market share and the second-largest brewer in the U.K. with a market share of 21%, with Molson, Canada’s leading brewer, with 43% market share and the third-largest brewer in Brazil, with 11% market share.
Coors was founded in 1873; Molson, North America’s oldest brew company, was founded in 1786.
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