{"id":11258,"date":"2007-10-09T09:13:12","date_gmt":"2007-10-09T16:13:12","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/wp\/2007\/10\/09\/interesting-if-youre-me-too.html"},"modified":"2007-10-09T09:13:12","modified_gmt":"2007-10-09T16:13:12","slug":"interesting_if_youre_me_t","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2007\/10\/09\/interesting_if_youre_me_t.html","title":{"rendered":"Interesting if you’re me, too"},"content":{"rendered":"
\"\" <\/div>\n

Doyce passes on:<\/p>\n

\n

SABMiller and Molson Coors to Combine U.S. Operations in Joint Venture<\/a><\/p>\n

SABMiller plc (SAB.L) and Molson Coors Brewing Company (TSX: TAP)(NYSE: TAP) today announced that they have signed a letter of intent to combine the U.S. and Puerto Rico operations of their respective subsidiaries, Miller and Coors, in a joint venture to create a stronger, brand-led U.S. brewer with the scale, resources and distribution platform to compete more effectively in the increasingly competitive U.S. marketplace.<\/p>\n

The new company, which will be called MillerCoors, will have annual pro forma combined beer sales of 69 million U.S. barrels (81 million hectoliters) and net revenues of approximately $6.6 billion. Pro forma combined EBITDA will be approximately $842 million(1). SABMiller and Molson Coors expect the transaction to generate approximately $500 million in annual cost synergies to be delivered in full by the third full financial year of combined operations. The transaction is expected to be earnings accretive to both companies in the second full financial year of combined operations. Closing of the transaction is subject to reaching final agreement, obtaining clearance from U.S. competition authorities, certain other regulatory clearances and third-party consents, as required.<\/p>\n

SABMiller and Molson Coors will each have a 50% voting interest in the joint venture and have five representatives each on its Board of Directors. Based on the economic value of the contributed assets, SABMiller will have a 58% economic interest in the joint venture and Molson Coors will have a 42% economic interest.<\/p>\n

[…] Pete Coors, Vice Chairman of Molson Coors, will serve as Chairman of MillerCoors. Graham Mackay, SABMiller CEO, will serve as Vice Chairman of MillerCoors. Leo Kiely, current CEO of Molson Coors, will be the CEO of the joint venture, and Tom Long, current CEO of Miller, will be appointed President and Chief Commercial Officer.<\/p>\n<\/blockquote>\n

 We do a lot of work for Coors, both nationally and at their Golden brewery (which is one big reason we moved our office here from downtown).  The Molson merger actually turned out well for us, as it added significant investment to the Golden brewery.  I don’t expect that to change, and I read somewhere that there were no plans for cost savings through brewery closuires, but it will be interesting to see what happens.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Doyce passes on: SABMiller and Molson Coors to Combine U.S. Operations in Joint Venture SABMiller plc (SAB.L) and Molson Coors Brewing Company (TSX: TAP)(NYSE: TAP) today announced that they…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[35,38,21],"tags":[],"class_list":["post-11258","post","type-post","status-publish","format-standard","hentry","category-big-business","category-food-drink","category-job-jollies"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":128772,"url":"https:\/\/hill-kleerup.org\/blog\/2015\/11\/11\/cant-tell-your-big-name-soulless-beer-conglomerates-without-a-program.html","url_meta":{"origin":11258,"position":0},"title":""Can't Tell Your Big Name Soulless Beer Conglomerates Without A Program!"","author":"***Dave","date":"Wed 11-Nov-15 9:04am","format":false,"excerpt":"MolsonCoors is buying out the MillerCoors joint venture fron InBev so that the SABMiller-Anheuser-Busch InBev merger can happen.I need a drink. Denver-based Molson Coors is buying the rest of MillerCoors for $12B - Denver Business Journal Molson Coors Brewing Co. said it's buying Anheuser-Busch InBev's 58 percent share of the\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51980,"url":"https:\/\/hill-kleerup.org\/blog\/2015\/07\/28\/when-beer-behemoths-collide.html","url_meta":{"origin":11258,"position":1},"title":"When Beer Behemoths Collide!","author":"***Dave","date":"Tue 28-Jul-15 9:51pm","format":false,"excerpt":"It's a bad sign in an industry when your composite merger names get so confusing that it's hard to tell who's being talked about. Would SABMiller sell MillerCoors stake to attract larger A-B InBev bid? - Denver Business Journal MillerCoors is SABMiller's joint venture with Denver-based Molson Coors Brewing Co.\u2026","rel":"","context":"In "~PlusPosts"","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8975,"url":"https:\/\/hill-kleerup.org\/blog\/2006\/03\/13\/asking_for_trou.html","url_meta":{"origin":11258,"position":2},"title":"Asking for trouble","author":"***Dave","date":"Mon 13-Mar-06 5:52pm","format":false,"excerpt":"Doyce provides today's nomination for most ill-advised vanity plate. Unless you're an exec at Coors, perhaps....","rel":"","context":"In "Cars"","block_context":{"text":"Cars","link":"https:\/\/hill-kleerup.org\/blog\/category\/cars"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21690,"url":"https:\/\/hill-kleerup.org\/blog\/2011\/07\/22\/unblogged-bits-fri-22-jul-11-2330.html","url_meta":{"origin":11258,"position":3},"title":"Unblogged Bits (Fri. 22-Jul-11 2330)","author":"***Dave","date":"Fri 22-Jul-11 11:30pm","format":false,"excerpt":"Links (most recent first) that caught my eye, but did not warrant full-blown blog entries .... I Find Your Lack of Relevance Disturbing: Is Star Wars a Joke Now? | Tor.com - Sadly, yes, it is. Arapahoe deputies brace for IKEA opening traffic - The Denver Post - It's like\u2026","rel":"","context":"In "Avatar \/ Airbender \/ Korra"","block_context":{"text":"Avatar \/ Airbender \/ Korra","link":"https:\/\/hill-kleerup.org\/blog\/category\/media\/franchises\/avatarairbenderkorra"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5972,"url":"https:\/\/hill-kleerup.org\/blog\/2004\/06\/15\/factoid.html","url_meta":{"origin":11258,"position":4},"title":"Factoid","author":"***Dave","date":"Tue 15-Jun-04 8:20am","format":false,"excerpt":"Pete Coors paid more in income tax last year than at least two of his U.S. Senate opponents earned in the past five years. Huh. You don't say. 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