9 result(s) displayed (1 - 9 of 9):

MillerCoors cost cuts sink in; profit rises (from Corporate Dealmaker)

MillerCoors LLC continues to perform strongly since launching in July 2008. The No. 2 U.S. brewer, behind Anheuser-Busch InBev SA (NYSE:BUD), saw third-quarter profit rise 37% from the same quarter a year earlier. Revenue was up 3.1%. Keystone Light, Miller High Life, MGD 64, Blue Moon and other less-expensive brands carried...

Posted on November 5, 2009 2:28 PM

Molson Coors JV delivers frothy results (from Corporate Dealmaker)

Moslon Coors Brewing Co. (NYSE:TAP) reported a 75.3% after-tax increase in earnings to $98.8 million for the first quarter, boosted in part by its joint venture with SABMiller plc. The company reported $3 million in cost savings in the first quarter of 2009 associated with MillerCoors, and a total of...

Posted on May 6, 2009 12:56 PM

SABMiller expands China footprint as AB InBev scales back (from Corporate Dealmaker)

SABMiller plc (LSE:SAB) is acquiring three brewers in China through its long-standing joint venture with China Resources Enterprise Ltd. China Resources Snow Breweries Ltd., maker of the popular Snow brand beer, is snapping up brewers in Anhui, Liaoning and Zhejiang provinces. CR Snow will make the purchases through three newly formed...

Posted on February 26, 2009 12:15 PM

MillerCoors integration cause for concern? (from Corporate Dealmaker)

The big beer joint venture between SABMiller plc and Molson Coors Brewing Co. is making at least one analyst nervous. According to one report, a J.P. Morgan Chase & Co. analyst dropped his rating on shares of Molson Coors citing concern about the ability of MillerCoors to mesh breweries, brewing...

Posted on July 31, 2008 10:47 AM

MillerCoors JV team prepares for day 1 (from Corporate Dealmaker)

It's done. SABMiller plc and Molson Coors Brewing Co. closed the deal to combine their U.S. and Puerto Rican operations to create MillerCoors. On July 1, the new joint venture will begin operations. Leading the charge are CEO Leo Kiely and Tom Long, president and chief commercial officer. Tim...

Posted on June 30, 2008 5:40 PM

Anheuser-Busch and Foster's: A tale of two brewers (from Corporate Dealmaker)

The deal market for beer is particularly frothy at the moment. You've got Anheuser-Busch Cos. reportedly looking to Grupo Modelo SAB de CV to help fend off InBev SA, and Foster's Group Ltd. exploring a possible sale or spinoff of its wine business. These deals, though, are part of a global industry consolidation that's been under...

Posted on June 13, 2008 2:05 PM

Merger wave to come post Anheuser-Busch-InBev? (from Corporate Dealmaker)

If Belgian brewer InBev SA makes a $40 billion-plus bid for the self-proclaimed King of Beers, Anheuser-Busch Cos., dealmakers at other companies in the sector may start looking to consolidate. SABMiller plc and Molson Coors Brewing Co. might try merging, while Mexico-based Fomento Economico Mexicano SAB or Turkey's largest...

Posted on May 28, 2008 9:16 AM

MillerCoors names chief integration and financial officers (from Corporate Dealmaker)

After getting EU clearance for their MillerCoors joint venture earlier this week, SABMiller plc and Molson Coors Brewing Co. have filled two critical positions for the JV. Tim Wolf will become chief integration officer, and Gavin Hattersley will take on the chief financial officer role.Wolf (pictured left) has served as...

Posted on April 9, 2008 5:02 PM

EU approves MillerCoors, Anheuser EVP comments (from Corporate Dealmaker)

As the joint venture between London's SABMiller plc and Denver-based Molson Coors Brewing Co. moves closer to fruition, receiving regulatory approval from the European Union on Monday, Anheuser-Busch Cos. global industry EVP Bob Lachky gave some commentary on his rivals' move. In an interview...

Posted on April 7, 2008 4:14 PM