As the Canadian government plans to bring forth laws to decriminalise and regulate recreational weed in the spring of 2017, brewer Molson is looking to the US state of Colorado for insight on the possible effects that the legalisation of marijuana could have on its beer sales.
After only six months on the job, Mauricio Restrepo, Chief Financial Officer of brewer Molson Coors resigned on 17 November 2016 with immediate effect “because of matters regarding personal conduct” not related to its business. The company didn’t offer more details about the issues that led to Mr Restrepo’s departure.
Jittery nerves or what? Investors have been dumping Coke, Procter & Gamble and other defensive stocks, shifting funds toward infrastructure and banking sectors after Donald Trump’s victory, US media say.
What do brewing industry executives do after they retire? Well, they join a craft brewer. David Ryder, the former Vice President of brewing, research, innovation and quality for MillerCoors, has joined Milwaukee’s City Lights Brewing Company, as chief innovation officer.
The free beer allotment for Labatt brewery retirees, which has been part of the workers' pension benefit package for more than five decades, will be scrapped. Labatt announced on 28 October 2016 that the perk will be phased out by 1 January 2019 because it’s too expensive. But workers call the cut petty when compared to the company’s rising revenues, Canadian media reported.
It’s the second time this year that AB-InBev has bought a craft brewer. The latest is Karbach, which is located in Houston and was founded only five years ago. Terms of the deal, which was announced on 3 November 2016, were not disclosed.
Molson Coors, on 1 November 2016, reported a 6.9 percent drop in third quarter volume sales, as demand for its beers in Canada and Europe declined.
DME Brewing Solutions President/CEO, Peter Toombs and Newlands Systems President, Brad McQuhae announced by the end of September the union of two long-standing Craft Beer Equipment Manufacturers: DME Brewing Solutions (DME) and Newlands Systems (NSI). The strategic partnership between these two complementary businesses will allow both entities to fortify their position as global leaders in the craft brewing equipment manufacturing industry.
You don’t need to be paranoid to believe they are after you. This ancient bus-stop graffiti comes to mind when reviewing responses to AB-InBev’s latest US acquisition in the craft beer sector. In October 2016, ZX Ventures, the venture capital arm of AB-InBev acquired Northern Brewer Homebrew Supply and its sister company, Midwest Supplies. The two homebrewing companies generated combined annual sales of USD 50 million, according to Brewbound. No details of the transaction were disclosed.
You’d have thought that the promiscuity of brewers was a thing of the past. But no, it’s having a comeback among craft brewers. Kirin, Japan’s number two brewer, will acquire a stake of 24.5 percent in Brooklyn Brewery for an undisclosed sum, the companies said on 12 October 2016, which will make Carlsberg exceedingly jealous.