EUROPE: StarBev to put Molson Coors back on track - analyst
Molson Coors completed its StarBev buy last year
Molson Coors' StarBev division will boost the company's growth in Europe as tough conditions in the UK continue, according to an analyst.
Coors paid EUR2.65bn(US$3.54bn) for Starbev in June, with the Czech maker of Staropramen helping the company post a 30% surge in Q3 volumes. “Although fundamentals in the UK remain tough, we continue to have confidence in top-line growth in the newly-acquired Central Europe division,” Nomura said today (11 January).
A planned consolidation of StarBev with its UK & Ireland operations, announced in October, “should support our group cost-cutting targets”, the analyst added.
Input costs for this year should lessen as barley prices remain flat or dip down, Nomura said. “At the very least, this should allow higher pricing in the US and Canada to benefit margins,” it said.
Yesterday, another analyst said the US beer market will avoid being the “next Europe” as the country enjoys an employment-led rebound.
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