Molson Coors Brewing Company

Molson Coors Brewing Company
Type Public
(NYSE: TAP)
(TSX: TPX.)
S&P 500 Component
Industry Beverages
Founded Molson (1786), Coors (1873), merged (2005)
Headquarters Denver, CO, USA
Montreal, QC, CAN
Key people Pete Coors, Chairman
Peter Swinburn, President
Products Beers, lagers, malt beverages, energy drinks
Revenue increaseUS$6.7 Billion (FY 2011)[1]
Operating income increaseUS$754 Million (FY 2009)[1]
Net income increaseUS$720 Million (FY 2009)[1]
Total assets increaseUS$12.0 Billion (FY 2009)[2]
Total equity increaseUS$7.08 Billion (FY 2009)[2]
Employees 9,700[3]
Subsidiaries Molson
Molson Coors Brewing Co. (UK), Ltd.
Miller Coors (JV)
The Beer Store (49%)
Website www.molsoncoors.com

Molson Coors Brewing Company (TSX: TPX.B; NYSE: TAP) is a company that was created by the merger of two of North America's largest breweries: Molson of Canada, and Coors of the United States, on February 9, 2005. The Canadian subsidiary of Molson Coors Brewing Company is a part-owner of Brewers Retail Inc., operator of Ontario's The Beer Store retail chain.

According to the Molson Coors website, Molson Coors Brewing Company is the fifth-largest brewer by volume with 42.1 million U.S. beer barrels (30.2 million U.K. barrels; 49.4 million hL) sold in 2006.[4]

The company's binational nature has caused several sources in both the U.S. and Canada to claim the company is now controlled by interests in the other country.[5][6] In fact, while the company is incorporated in the United States,[7] the company is traded on stock exchanges in both countries,[8] and control is equally shared between the Molson and Coors families.[9] The company is headquartered in Denver, CO and Montreal, QC.

On October 9, 2007, SABMiller and Molson Coors Brewing Company announced a joint venture to be known as MillerCoors for their U.S. operations that will market all of their products.[10]

On February 2, 2011 the company purchased Sharp's Brewery in Cornwall, UK for around £20 million.

On May 26, 2011 7th generation family member Andrew Molson succeeded Pete Coors as acting Chairman [11]

In Spring 2012, the company successfully expanded into the Central and Eastern Europe markets by acquiring the region's market-leader brewery Starbev from CVC Capital Partners.[12]

Corporate governance

The 2005 members of the board of directors of the company are: Francesco Bellini, John Cleghorn, Peter Coors, Melissa Coors, Charles Herington, Franklin Hobbs, Leo Kiely, Gary S. Matthews, Andrew Molson, Eric Molson, David O'Brien, Pamela Patsley, and Sanford Riley.

Environmental record

The Molson Coors Brewing Company conducted a complete, comprehensive, and voluntary investigation of its pollution and environmental emissions. Coors was not violating the Clean Air Act but was encouraged by the Environmental Audit Privilege and Voluntary Disclosure Act which immunizes and credits organizations for conducting self-environmental audits. These audits catch what the government does not and grant immunity from environmental regulation fines.[13] The United States government had thought that Coors was a minor violator of emitters like volatile organic compounds (VOCs), but the investigating proved otherwise. It revealed Coors to be 17 times over the estimated value of emissions. Molson Coors then provided the audit results to the Colorado Department of Health which culminated in a $1.05 million fine for the 189 violations of state pollution laws—of which Coors and the United States government had no idea.[14] Although Molson Coors said they did not know about volatile organic compounds they were emitting, they do claim to be environmentally aware. Coors invented a new printing technology technique which uses ultra-violet light to cure the print. This innovation is more environmentally sound than the traditional gas firing technique.[15]

Community Programs

In 2007 Molson Coors Canada introduced a Community Blog designed to share details of their employee volunteerism, responsibility initiatives, and corporate philanthropy. [16]

Brands

See also: Molson Coors brands

References

  1. ^ a b c [[1]]
  2. ^ a b Molson Coors Brewing Company (TAP) annual SEC balance sheet filing via Wikinvest
  3. ^ "Company Profile for Molson Coors Brewing Co (TAP)". http://zenobank.com/index.php?symbol=TAP&page=quotesearch. Retrieved 2008-10-15. 
  4. ^ Business Profiles - Molson Coors Brewing Company
  5. ^ Yahoo! Answers discussion (American claims that the company is Canadian-owned)
  6. ^ Alien Beers Attack! (produced by Canada's Quidi Vidi Brewing Company, implies that the company is American-owned)
  7. ^ MolsonCoors 2008 SEC 1O-K filing
  8. ^ The company that trades on the Toronto Stock Exchange, Molson Coors Canada Inc., entitles its shareholders economic and voting interests of the US-incorporated Molson Coors Brewing Company equivalent to MCBC shareholders on the New York Stock Exchange. MolsonCoors 2008 SEC 1O-K filing
  9. ^ Molson Coors ownership structure
  10. ^ "Business, financial, personal finance news". CNN. http://money.cnn.com/2007/10/09/news/companies/bc.apfn.molsoncoors.sabm.ap/index.htm?postversion=2007100910. 
  11. ^ Pankratz, Howard (26 May 2011). "Andrew Molson succeeds Peter H. Coors as Molson Coors chairman". Denver Post. http://www.denverpost.com/breakingnews/ci_18145829. 
  12. ^ http://invest-iq.net/2012/04/cvc-starbev-sale/
  13. ^ Norton's record bodes well for innovative new approach to environmental protection at Interior Enter Stage Right by John K. Carlisle retrieved 30 April 2008
  14. ^ Reason.org ENVIRONMENTAL ENFORCEMENT: In Search of Both Effectiveness and Fairness by Alexander Volokh and Roger Marzulla August 1996 retrieved 30 April 2008
  15. ^ Technology infiltrates the beverage industry The Winonan by Carl Hunter. 9 April 2008 retrieved 30 April 2008
  16. ^ [2] Molson Community Blog retrieved 4 December 2011

14. http://www.campdenfb.com/article/molson-family-excited-regain-ownership-montreal-canadiens — Molson family regain ownership of Montreal Canadiens June 2009

External links

Wikimedia Commons has media related to: Molson Coors Brewing Company