just the Preview – Molson Coors' Q3
By just-drinks.com editorial team | 2 November 2010
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Molson Coors will announce its Q3 results tomorrow |
Molson Coors is set to report its third-quarter results tomorrow (3 November). Here, just-drinks takes a look at the highs and lows for company in the three months to the end of September.
- Towards the end of July, Molson Coors Brewing Company – the company's UK arm - confirmed that it will hand the sales, marketing and distribution of FEMSA Cerveza's Sol and Dos Equis beer brands in the UK to Heineken in October. The Netherlands-based brewer acquired FEMSA Cerveza earlier this year.
- This was followed last month by Molson Coors Brewing Company switching from one Mexican brewer to another, when it announced that it will take over the importing, selling and marketing of Grupo Modelo's beers from Wells & Young's from January. As well as handling Modelo's brands, which includes the export hit Corona Extra, in the UK, Molson Coors will also handle the beers in Japan from the beginning of next year.
- Back to September, and reports out of Australia suggested that Molson Coors has backed away from any prospective move for Foster's Group's brewing arm. Although the company would not comment on the report, just-drinks obtained a copy of a fax from Deutsche Bank, which bought a 5% stake in Foster's for Molson Coors two years ago, in which Deutsche Bank said that it has “ceased to be a substantial holder” in Foster's.
- In September, the company signed a deal with the private equity owner of Labatt USA, KPS Capital, to brew Labatt beer for the US market. Financial details behind the “long-term” tie-up were not disclosed.
- Finally, also in September, Molson Coors started about setting up a joint venture in China. The company will take a 51% stake in the venture, to be named Molson Coors Si’hai Brewing Co, with Hebei Si’hai Beer Co holding the remaining 49%.
For Molson Coors' Q2 and H1 results, click here.
Sectors: Beer & cider, Company results
Companies: Coors, Heineken, FEMSA, Modelo, Foster’s
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just the Preview – Molson Coors' Q3
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