MillerCoors
{{short description|Former beer brewing company in the United States}}
{{Infobox company
| name = MillerCoors LLC
| logo = MillerCoors Logo.svg
| type =
| fate = Acquired by Molson Coors in 2016, Folded into Molson Coors North America in 2020
| foundation = 2008
| defunct = 2020
| hq_location = Chicago, United States
| key_people =
| industry = Beverages
| products = Beer
| revenue =
| operating_income =
| net_income =
| homepage =
| parent = Molson Coors
}}
MillerCoors was a beer brewing company in the United States. MillerCoors was formed in 2008 as a joint venture between SABMiller and Molson Coors to combine their brewing, marketing and sales operations in the United States.{{cite news |url = https://money.cnn.com/2007/10/09/news/companies/bc.apfn.molsoncoors.sabm.ap/index.htm?postversion=2007100910 |publisher = CNN |date = October 9, 2007 |title = Miller, Coors double-team Bud – New venture, to be called MillerCoors, will take on industry-leader Anheuser-Busch, which owns Budweiser |archive-url = https://web.archive.org/web/20071103124625/https://money.cnn.com/2007/10/09/news/companies/bc.apfn.molsoncoors.sabm.ap/index.htm?postversion=2007100910 |archive-date = November 3, 2007 |url-status = dead |access-date = October 9, 2007 |df = mdy-all }}{{Cite news|url=https://www.denverpost.com/2016/10/11/molson-coors-claims-millercoors/|title=Molson Coors claims all of MillerCoors, making home-grown brewer the third largest in the world|author-last1=Svaldi|author-first1=Aldo|date=2016-10-12|work=The Denver Post|access-date=2018-01-02|language=en-US}}{{cite news |last=Wright |first=Lisa |date=November 11, 2015 |title=Molson Coors doubles with $12B Miller buyout |url=https://www.thestar.com/business/2015/11/11/molson-coors-doubles-with-12b-miller-buyout.html |newspaper=Toronto Star |location=Toronto |access-date=January 29, 2017}} The company was acquired by Molson Coors in 2016.{{cite news |last=Brown |first=Lisa |date=October 11, 2016 |title=A-B InBev finalizes $100B billion acquisition of SABMiller, creating world's largest beer company |url=http://www.chicagotribune.com/business/ct-megabrew-ab-inbev-sabmiller-merger-20161010-story.html |newspaper=Chicago Tribune |location=Chicago |access-date=January 29, 2017}} In 2019 it was announced that MillerCoors and Molson Coors Canada would be consolidated into a single business unit under the name Molson Coors North America.{{cite web |first=Margaret |last=Naczek |date=October 30, 2019 |url=https://www.bizjournals.com/milwaukee/news/2019/10/30/molson-coors-dropping-millername-as-it-rebrands.html |title=Molson Coors Dropping Miller Name as It Rebrands the Company |website=Milwaukee Business Journal |access-date=February 2, 2020}}{{cite web |date=October 30, 2019 |url=https://www.molsoncoorsblog.com/molson-coors-ceo-hattersley-revitalization-plan-will-put-us-path-growth |title=Molson Coors CEO Hattersley: Revitalization plan 'will put us on the path to growth' |website=Molson Coors Blog |access-date=October 12, 2020}}
History
=Joint venture with SABMiller=
MillerCoors was announced as a joint venture between SABMiller and Molson Coors in October 2007{{cite news |last=Martin |first=Andrew |title=Merger for SABMiller and Molson Coors |work=The New York Times | url=https://www.nytimes.com/2007/10/10/business/worldbusiness/10beer.html | date=October 10, 2007}} and was approved by regulators on June 5, 2008. The venture was completed on June 30, 2008, and MillerCoors began operation on July 1, 2008.{{cite news|last=Daykin |first=Tom |title=U.S. signs off on Miller, Coors merger |work=Milwaukee Journal Sentinel |date=2008-06-05 |url=http://www.jsonline.com/watch/?watch=1&date=6/5/2008&id=40816 |access-date=2008-06-05 |archive-url=https://web.archive.org/web/20080803031843/http://www.jsonline.com/watch/?watch=1&date=6%2F5%2F2008&id=40816 |archive-date=2008-08-03 |url-status=dead }}
On September 14, 2015, MillerCoors announced that it would shut down its Eden, North Carolina brewery in September 2016 due to declining corporate sales. The company has newer plants in Virginia and Georgia that will serve the Eden plant's distribution area.{{cite news|url=http://www.journalnow.com/business/business_news/local/millercoors-to-close-eden-brewery-in-september/article_030e463b-1002-530e-abee-d552d420bfdc.html|title=MillerCoors to close Eden brewery in September 2016|last=Craver|first=Richard|work=Winston-Salem Journal|date=2016-09-15|access-date=2016-05-25}} In May 2016, the Milwaukee Journal Sentinel reported that Pabst Brewing Company and Blue Ribbon Intermediate Holdings filed a lawsuit because Pabst wanted to continue making its beers in Eden.{{cite news|url=http://www.greensboro.com/business/local_business/pabst-s-sues-millercoors-about-eden-closure/article_1ca2663f-0913-557b-bc86-bbb66ae0144e.html|title=Pabst's sues MillerCoors about Eden closure|last=Davis|first=Jonnellle|work=News & Record|date=2016-05-16|access-date=2016-05-25}}
=Sole ownership by Molson Coors=
During the merger discussions between Molson Coors and SABMiller in 2015, the U.S. Department of Justice (DOJ) agreed to the proposed deal only on the basis that SABMiller "spins off all its MillerCoors holdings in the U.S.—which include both Miller- and Coors-held brands—along with its Miller brands outside the U.S." The entire ownership situation was complicated: "In the United States, Coors is majority owned [58%] by MillerCoors (a subsidiary of SABMiller) and minority owned by Molson Coors, though internationally it's entirely owned by Molson Coors, and Miller is owned by SABMiller."{{cite web |url=https://www.forbes.com/sites/taranurin/2016/07/20/doj-approves-largest-beer-merger-in-global-history/#1c050c1a21ab |title=DOJ Approves Largest Beer Merger In Global History, With Significant Conditions |last=Nurin |first=Tara |date=July 20, 2016 |website=Forbes |access-date=January 29, 2017}} SABMiller agreed to divest itself of the Miller brands by selling its stake in MillerCoors to Molson Coors.
On October 11, 2016, SABMiller sold its stake in MillerCoors for around US$12 billion after the company was acquired by Molson Coors, making Molson Coors the 100 percent owner of MillerCoors. Molson Coors also retained "the rights to all of the brands currently in the MillerCoors portfolio for the U.S. and Puerto Rico, including Redd's and import brands such as Peroni, Grolsch and Pilsner Urquell." The agreement made Molson Coors the world's third largest brewer.{{cite web |url=http://www.molsoncoors.com/en/news/molson-coors-completes-acquisition-of-millercoors-and-global-miller-brand-portfolio |title=Molson Coors Completes Acquisition of Full Ownership of MillerCoors and Global Miller Brand Portfolio |date=October 11, 2016 |publisher=Molson Coors |access-date=January 29, 2017 |quote=Becomes World's Third Largest Brewer by Enterprise Value and Strengthens Position in Highly Attractive U.S. Beer Market |archive-url=https://web.archive.org/web/20170202043334/http://www.molsoncoors.com/en/news/molson-coors-completes-acquisition-of-millercoors-and-global-miller-brand-portfolio |archive-date=February 2, 2017 |url-status=dead}}{{cite web |url=http://www.chicagobusiness.com/article/20161011/NEWS07/161019965/how-the-new-reorg-will-and-wont-change-millercoors |title=How the new reorg will—and won't—change MillerCoors |last=Frost |first=Peter J |date=October 11, 2016 |website=Chicago Business |publisher=Crain Communication, Inc. |access-date=February 2, 2017 |quote=We're now the third-largest brewery in the world, and we're now the biggest American-owned brewer. But our businesses are run locally... and that's not going to change.}}
=2020 Molson Coors corporate restructuring=
On January 1, 2020, Molson Coors Brewing Company changed its name to Molson Coors Beverage Company. This was part of a corporate restructuring that reorganized the company's four business units into Molson Coors North America and Molson Coors Europe and retired the MillerCoors corporate brand name.{{cite web |first=Tom |last=Daykin |date=October 30, 2019 |url=https://www.usatoday.com/story/money/2019/10/30/millercoors-name-change-molson-coors-job-cuts-imminent/4100734002/ |title=Brewing Titan Molson Coors Undergoes Name Change, Looks to Cut up to 500 Jobs |website=USA Today |access-date=February 2, 2020}}{{cite web |date=October 30, 2019 |url=https://www.molsoncoorsblog.com/molson-coors-ceo-hattersley-revitalization-plan-will-put-us-path-growth |title=Molson Coors CEO Hattersley: Revitalization plan 'will put us on the path to growth' |website=Molson Coors Blog |access-date=October 10, 2020|author-first1=Peter|author-last1=Frost}}
Brands
{{Update section|date=October 2024}}
{{Main|List of Molson Coors brands}}
See also
Notes
{{Reflist}}
External links
- [http://www.beerhistory.com/library/holdings/millerhistory.shtml Miller History]
- [https://web.archive.org/web/20161221073727/http://www.molsoncoors.com/en/our-story/our-history Molson Coors]
- [https://www.usatoday.com/story/money/business/2016/07/20/report-doj-ok-ab-inbev-sabmiller-deal/87347546/ DOJ approves Anheuser-Busch InBev's $107 billion deal for SABMiller]
{{SABMiller}}
{{DEFAULTSORT:Millercoors}}
Category:Beer brewing companies based in Chicago
Category:Former joint ventures
Category:defunct manufacturing companies based in Chicago
Category:Food and drink companies established in 2008
Category:Molson Coors Beverage Company
Category:2008 establishments in Illinois
Category:Food and drink companies disestablished in 2020