First Coors gets married to a Canadian. Now, the Golden, CO-based brewer is adding another wife, this one from London and Milwaukee. And check this, the first wife’s name will be dropped. How unfair life can be.
The new company will combine Coors’ two breweries with Miller’s seven plants. Under the deal, a Coors product can be brewed at a Miller plant and vice versa. Thus, the combined firm will bring its production closer to end markets, creating huge savings on shipping.
MillerCoors said both Denver and Milwaukee will keep some headquarters functions but hasn’t chosen a home base yet.
Anheuser-Busch’s shares dropped 46 cents, or 1 percent, closing at $51.57. Meanwhile, Molson Coors’ stock shot up $5.32 cents or 10.5 percent, closing at $56.15.
[via Chicago Tribune]
