Molson Coors Beverage Co has bought a minority stake in Tru Colors, a North Carolina brewer that was founded to combat gang violence.
Announced yesterday, the purchase gives Molson Coors equity in Tru Colors’ “above-premium” beer portfolio as well as a role in a company with a unique message. “This partnership represents an opportunity to not only invest in what we believe will be a successful business, but also in a brand with a strong social justice presence that will have an immeasurable positive impact on hundreds of lives,” said CEO Gavin Hattersley.
The brewer will enter Molson Coors’ US craft beer portfolio, Tenth & Blake. Financial details of the acquisition were not disclosed.
Tru Colors employs gang members and aims to curb street violence by providing opportunities to disadvantaged groups. The brewer has linked up with Molson Coors to help expand its business model to communities across the US.
Meanwhile, Tru Colors is building a production site in Wilmington, North Carolina, and will commence the distribution of Tru Light, a 95-calorie, 4.2%-abv lager, in North Carolina and Virginia this Summer.
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By GlobalData“Tru Colors plays a significant role in [a] reduction of violence,” said CEO George Taylor, who founded the brewery in 2019. “I know the bullets that our team has stopped from flying on a regular basis.”
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