The CEO of Molson Coors has said that the brewer is on the lookout for “smart” acquisitions.
Speaking to analysts at an investor conference in New York yesterday (3 March), Molson CEO Peter Swinburn reiterated that the Canada-based brewer has an open mind on takeovers.
“Yes, we’re interested in acquisitions, as long as they’re smart acquisitions,” said Swinburn.
“Our definition of smart acquisitions is that they must be accretive in the short-term and they must deliver real shareholder return – and that’s got to happen in the relatively short-term.”
His comments will fuel speculation that Molson Coors would bid for the Foster’s Group beer business in Australia, should Foster’s decide to deleverage its beer and wine businesses.
Molson has built up a 5% stake in Foster’s, although analysts believe that the group would likely face competition on a bid from SABMiller, and possibly one of the Japanese brewers.
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By GlobalDataFoster’s CEO Ian Johnston said in an interview for Australia’s ABC network last month that nobody has approached the firm for either its wine or its beer business.
Commenting on Molson’s 5% stake specifically, he said: “We can only speculate as to what’s behind those motivations.”
Acquisitions in new markets could help Molson to offset “sluggish” growth in its core western beer markets. However, Swinburn said last month that the brewer can still operate “pretty effectively” in its current market spread.
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