CANADA/US: Molson Coors signs Labatt USA deal
Molson Coors to brew for Labatt USA owner
Molson Coors has signed a deal with the private equity owner of Labatt USA to brew Labatt beer for the US market.
Molson Coors' CFO, Stewart Glendinning, confirmed today (8 September) that the brewer has signed a "long-term" contract brewing deal with North American Breweries (NAB). KPS Capital-controlled NAB bought the Labatt USA business from Anheuser-Busch InBev last year.
Its tie-up with Molson Coors will begin in early 2011 and makes good on KPS' promise to continue brewing Labatt in Canada.
"This deal builds on our track record of successful contract-brewing arrangements," Glendinning told analysts at at the Barclays Back-To-School Conference in Boston.
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