UK: Molson Coors spends GBP20m on Sharp's Brewery
Molson Coors' eye was caught by Sharp's Brewery's Doom Bar brand
The UK arm of Molson Coors has acquired the maker of cask beer brand Doom Bar, Sharp’s Brewery, for GBP20m (US$32.4m).
Molson Coors (UK) confirmed the purchase today (2 February), praising Sharp's for creating a “modern and progressive” brand in Doom Bar. Citing figures from CGA Data Monitor, Molson Coors, which handles some of Sharp's distribution in the UK, said that Doom Bar is the top-selling cask brand in the south-west and Wales, and the fastest-growing cask brand in Greater London.
“The Doom Bar brand … has the potential to become a truly extraordinary brand," said the chief executive of Molson Coors (UK & Ireland), Mark Hunter. “We have a wealth of experience with this type of venture and an excellent track record of building brands across all markets. We respect and want to preserve the unique culture of Sharp’s Brewery.”
Sharp’s managing director, Nick Baker, added: “It was, and is, important to us to know how Molson Coors will manage Sharp’s and their plan to invest in developing the brewery ... and the Doom Bar brand is spot on.
“We are excited to watch Sharp’s Brewery achieve even more under their stewardship.”
When contacted by just-drinks, a spokesperson for Sharp's said: "Sharp’s have been looking to grow distribution after gains in the south-west, London and the south-east and spoke to Molson Coors first as a potential partner to increase their footprint further north. That conversation was the start of what has culminated in the deal announced today."
Founded in 1994, Sharp's is based in Cornwall in the south-west of England. For the 12 months to the end of October, sales totalled GBP16.1m from GBP11.4m a year earlier, while profits before tax came to GBP1.63m, compared to GBP428,225.
Molson Coors also owns the Worthington ale brand.
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