Molson Coors (TAP) Consolidates European Businesses
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Molson Coors (NYSE: TAP) today announced the formation of a new business segment, Molson Coors Europe, by combining its existing businesses in the UK and Ireland with its recently-acquired business in nine Central European countries, effective January 1, 2013.
Headquartered in Prague, Molson Coors Europe will comprise approximately 23.6 million hectoliters of volume and $2.3 billion of net sales revenue on a pro forma US GAAP basis for 2011. These figures represent approximately 38% of Molson Coors Brewing Company’s 2011 pro forma worldwide beer volume and 30% of global net sales revenue.
“This move makes us a stronger competitor,” said Peter Swinburn, CEO, Molson Coors. “It allows us to use our go-to-market resources more effectively in the region and promotes better sharing of commercial best practice and marketing expertise. With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies.”
Headquartered in Prague, Molson Coors Europe will comprise approximately 23.6 million hectoliters of volume and $2.3 billion of net sales revenue on a pro forma US GAAP basis for 2011. These figures represent approximately 38% of Molson Coors Brewing Company’s 2011 pro forma worldwide beer volume and 30% of global net sales revenue.
“This move makes us a stronger competitor,” said Peter Swinburn, CEO, Molson Coors. “It allows us to use our go-to-market resources more effectively in the region and promotes better sharing of commercial best practice and marketing expertise. With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies.”
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