Food Industry
Industry: Email Alert RSS FeedMerger mania.(BEVERAGE Beat)(SABMiller PLC and Molson Coors Brewing Co. are planning to merge their businesses)(Editorial)
Beverage Industry, October, 2007 by Theodore, Sarah
SABMiller and Molson Coors announced this month that they plan to merge their businesses in the United States, a move that has been anticipated for some time now, but had the industry buzzing nonetheless. The new joint venture, which also includes Puerto Rico, will be called MillerCoors and will have sales of approximately $6.6 billion and nearly 30 percent market share. While the deal is still subject to regulatory approval, it is anticipated that the companies will get the go-ahead.
Overall, reaction to the joint venture seems positive. The companies already share 60 percent of the same wholesalers and are projecting $500 million in annual savings. "The combination of Coors and Miller creates a more rational and stronger No. 2 player in the U.S. market,...
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