CANADA: Fourth quarter profit growth at Molson
The company, which acquired Brazilian brewer, Kaiser, in March for $765m, making it the 13th largest brewing concern in the world, was pleased with the results but believes there is significant potential for further growth. "Our results are fine, but there is a lot more to achieve," said Molson president and CEO, Daniel O'Neill.
O'Neill also said the company would soon be undertaking a review of its Canadian and Brazilian operations with the aim of finding increased cost savings and improving efficiency. "The Kaiser transaction is clearly a transformational event for Molson," O' Neill said, adding it would double the company's volume.
The Kaiser acquisition increased Molson's share in the Brazilian beer market from 3.1% to 17.8%. Molson bought Kaiser in partnership with Heineken which took a 20% stake. However, O'Neill again dismissed the much circulated rumour that Heineken was preparing to buy Molson. "There is not a bloody chance that this is going to happen," he said.
Volumes in the fourth quarter were 12.3% up on last year at 3.3m hls, with volumes in the Canadian market 1.5% higher. Market share in Canada rose by 0.1% to 45.3% while volumes in the US increased by 1.3% in the fourth quarter.
Molson Coors has appointed a new chief commercial officer for Molson Canada....
Heineken said yesterday that its Austrian subsidiary Brau Union AG has signed an agreement for the divestment of its Real Estate Division. This division comprises all non-business related real estate ...
Molson Coors has appointed a new chief legal officer....
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
Molson Coors has begun brewing in Russia....
Graham Cranswick-Smith, founder and previous MD of Cranswick Premium Wines, before it was bought by Evans & Tate, has come out of what he has called a "hibernation" to set up a distribution company in...
Grupo Empresarial Bavaria is not looking to sell up, its president has confirmed....
- Comment - Diageo Steps Up Defence of Haig Club
- Focus - Diageo's H1 Results by Region, Brand
- Comment - Spirits - Where Next for Scotch Whisky?
- just the Preview - Diageo Q2 & H1
- just the Facts - Top 20 US Beers by Value, Volume
- Belvedere vodka tie-up over new James Bond film
- Diageo speaks out over supplier contract changes
- Brown-Forman appoints Jack Daniel's president
- Diageo inks UK distribution deals
- ASA rejects Haig Club ad complaints
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Edrington Group in Spirits (World)
- Global Consumer Trends and Key Consumer Targets in Alcoholic Beverages