Molson buys back US brands
Indirectly admitting that its partnership with Miller Brewing Co has not worked out, Canadian brewer Molson announced that it had bought back the ownership of its brands in the US and regained control of its strategy. The re-purchasing of the Molson brands was valued at US$ 133 million in cash. Thus Molson is hoping to reverse the fortune of its beer brands which have been floundering for some time despite the US beer market reporting compound growth of more than 11 % over the past five years. Molson’s CEO, Dan O’Neill, was reported saying that they (Molson) were not a priority in that mix (partnership with Miller Brewing). It is generally believed that Miller was not spending enough on marketing Molson’s brands Molson Canadian, Molson Golden and Molson Ice in the US..
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