Business Renamed Molson Coors Central Europe
DENVER & MONTREAL--(BUSINESS WIRE)--Jun. 18, 2012--
Molson Coors Brewing Company (NYSE: TAP; TSX) today announced that it
has completed its previously announced acquisition of StarBev for
approximately €2.65 billion. Mark Hunter, the CEO of Molson Coors UK &
Ireland business, will serve as Chief Executive Officer of the new
business unit, which has been renamed Molson Coors Central Europe.
Molson Coors Central Europe employs approximately 4,100 people, operates
nine breweries and sells its market-leading brands in the Czech
Republic, Serbia, Croatia, Romania, Bulgaria, Hungary, Montenegro,
Bosnia-Herzegovina and Slovakia. The acquisition includes Staropramen,
the business unit’s flagship brand with sales in more than 30 countries
worldwide.
“We are excited to complete this acquisition, which significantly
enhances our growth profile and builds upon our portfolio of premium
brands,” said Peter Swinburn, President and Chief Executive Officer of
Molson Coors. “Since the initial announcement, we have spent
considerable time in-market and engaging with the local teams. We are
more excited than ever about the numerous opportunities we see in this
business and in the region. Significant progress has been made in laying
the foundation for a successful integration and we are confident we have
the right team, experience and strategy to achieve our goals.”
Mark Hunter, Chief Executive Officer of Molson Coors Central Europe,
said, “I am delighted to take the helm of the Molson Coors Central
Europe business, where I will be inheriting a strong operation with
great brands and a high-performing team. We have a clear plan in place
to build upon the strong profile of these great brands and capitalize on
an attractive and growing beer market.”
Prior to his appointment as CEO of the UK & Ireland business in 2007,
Hunter served as chief commercial officer for Molson Coors Canada where
he was responsible for all sales and marketing activities. He worked in
a number of senior roles since joining the brewing industry in 1989,
including managing the export markets and business unit strategy for
Bass Brewers and marketing management of the Carling brand. He also has
served on the board of Bass Brewers as marketing director and on the
board of Coors Brewers Ltd. Prior to 1989, Hunter held a variety of
sales positions with Hallmark Cards and Bulmers Drinks.
Overview of Molson Coors Brewing Company
Molson Coors Brewing Company is one of the world’s largest brewers. The
Company’s operating segments include Canada, the United States, the
United Kingdom, Central Europe, and Molson Coors International. The
Company has a diverse portfolio of owned and partner brands, including
signature brands Coors Light, Molson Canadian, Carling and Staropramen.
Molson Coors is listed on the 2011 Dow Jones Sustainability Index
(DJSI), the most recognized global benchmark of sustainability among
global corporations. For more information on Molson Coors Brewing
Company, visit the company’s web site, www.molsoncoors.com.
Forward-Looking Statements
This press release includes estimates or projections that constitute
“forward-looking statements” within the meaning of the U.S. federal
securities laws. Generally, the words “believe,” expect,”
intend,” anticipate,” “project,” “will,” and similar expressions
identify forward-looking statements, which generally are not historic in
nature. Although the Company believes that the assumptions upon
which its forward-looking statements are based are reasonable, it can
give no assurance that these assumptions will prove to be correct.
Important factors that could cause actual results to differ materially
from the Company’s historical experience, and present projections and
expectations are disclosed in the Company’s filings with the Securities
and Exchange Commission (“SEC”). These factors include, among
others, our ability to successfully integrate StarBev, retain key
employees and achieve planned cost synergies; pension plan costs;
availability or increase in the cost of packaging materials; our ability
to maintain manufacturer/distribution agreements; impact of competitive
pricing and product pressures; our ability to implement our strategic
initiatives, including executing and realizing cost savings; changes in
legal and regulatory requirements, including the regulation of
distribution systems; increase in the cost of commodities used in the
business; our ability to maintain brand image, reputation and product
quality; our ability to maintain good labor relations; changes in our
supply chain system; additional impairment charges; the impact of
climate change and the availability and quality of water; the ability of
MillerCoors to integrate operations and technologies; lack of
full-control over the operations of MillerCoors; the ability of
MillerCoors to maintain good relationships with its distributors; and
other risks discussed in our filings with the SEC, including our Annual
Report on Form 10-K for the year-ended December 31, 2011, which are
available from the SEC. All forward-looking statements in this
press release are expressly qualified by such cautionary statements and
by reference to the underlying assumptions. You should not place undue
reliance on forward-looking statements, which speak only as of the date
they are made. We do not undertake to update forward-looking
statements, whether as a result of new information, future events or
otherwise.
Source: Molson Coors Brewing Company
Molson Coors Brewing Company
News Media
Colin Wheeler,
303-927-2443
colin.wheeler@molsoncoors.com
or
Marie-Hélène
Lagacé, 514 598-6966
MarieHelene.lagace@molsoncoors.com
or
Investor
Relations
Dave Dunnewald, 303-927-2334
davida.dunnewald@molsoncoors.com