In one of the largest beer consolidations in memory, Molson Coors Brewing Co. and SABMiller PLC are combining their U.S. operations in a joint venture.(Business Briefs)

Beverage Dynamics, November, 2007

In one of the largest beer consolidations in memory, Molson Coors Brewing Co. and SABMiller PLC are combining their U.S. operations in a joint venture. Reportedly, SABMiller will have a 58% control of the new company while Molson Coors will own 42%. However, sources note that they will have equal voting interests; the exact financial terms of the transaction have not been disclosed.

Peter Coors, vice chairman of Molson Coors, will serve as chairman of the new company, and Molson Coors chief executive Leo Kiely will be the ceo. Tom Long, ceo of Miller, will be appointed president and chief commercial officer of the new company, called MillerCoors. The companies estimate that MillerCoors will sell 69 million barrels of beer in the U.S., with revenues of about $6.6 billion.