Food Industry
Industry: Email Alert RSS FeedMolson Coors pulls back from Brazil.(Molson Coors Brewing Co. sold its stacks of Kaiser Brazilian to Femsa Cerveza SA )(Brief Article)
Beverage Industry, February, 2006
Molson Coors has sold a 68 percent stake in its Kaiser Brazilian operation to Femsa Cerveza SA for $68 million. The move has been expected as the Brazilian business has been struggling for several years.
"Last year, we committed to a strategic review of our Brazilian business," said Leo Kiely, president and chief executive officer at Molson Coors. The transaction allows us to focus on our biggest markets and continue to deliver the cost synergies and other benefits related to the Molson Coors merger. It also represents a winning proposition for Kaiser in Brazil, as it further aligns branding, production, selling and distribution operations." Femsa owns the largest distributor of Kaiser products in Brazil.
Molson Coors will maintain a 15 percent share...
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