Molson Coors is now the world's 5th largest brewer. It was formed in 2005 from the merger of Canadian brewer Molson and the US company Adolph Coors. Until comparatively recently, the latter was merely America's #3 brewer, with virtually no profile outside its domestic market. But in 2001 the company was catapulted into the international big league following its surprise acquisition of the UK's Carling and other beer brands hived out of the former Bass portfolio. Having become the UK's #2 brewer almost overnight, the group went on to negotiate a merger with Molson which bolted on a leading position in Canada. Another significant development came in 2007 with Molson Coors' agreement to combine its US operations with those of rival SABMiller to create MillerCoors, a stronger competitor to local giant Anheuser-Busch. In the wake of AB InBev's break-up bid for SABMiller, Molson Coors took back full control of MillerCoors in Oct 2016. The group's main focus remains on those two markets of North America and the UK, although it also exports to other territories, and established a presence in Eastern Europe in 2012 with the purchase of the Czech Republic's StarBev, makers of Staropramen, Bergenbier and Borsodi. However, the group's biggest brands have only a limited international footprint, even if sales are sizeable in their respective domestic markets. Miller, Coors and Molson, for example, have virtually no profile outside North America. Perhaps the most widely travelled brand in Molson Coors' portfolio is US craft beer Blue Moon. Reversals in the US, where MillerCoors continues to suffer from the industrywide shift towards craft beers and imports, weighed heavily on results for 2018. Net sales slipped back by 2% to $10.8bn, while net income tumbled by 29% to $1.1bn. Total volumes were 96.6m hectolitres. The British-born former Bass Brewers executive Mark Hunter has been CEO of Molson Coors since 2015. He announced his departure mid 2019, to be replaced by MillerCoors chief Gavin Hattersley.
Capsule checked 1st July 2019
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Historical profile information for Molson Coors
Adbrands Daily Update 1st Aug 2019: Molson Coors CEO Mark Hunter is to retire in September, and will be replaced by Gavin Hattersley, currently head of the group's US subsidiary MillerCoors. "I have worked very closely alongside Gavin for many years," said Hunter, "and know the sharpness of his intellect, the intensity of his passion for the company and quality of his character and he will be a terrific leader of the overall business." The announcement coincided with disappointing 2Q results, in which sales and profits both came in below expectations as a result of continuing declines in the US, especially for top seller Coors Light.
Adbrands Weekly Update 9th Feb 2017: Molson Coors wrapped up a global review of media, awarding the biggest prize to Publicis Groupe. Its MillerCoors division in the US, now wholly owned following the break-up of SABMiller, appointed a new dedicated unit of Publicis Media to manage the business, previously housed at Initiative. That marks a major gain for Publicis and an equally significant loss for Initiative, worth in excess of $400m in billings. Connect at Publicis Media will be headed by Americas CEO Tim Jones, and will be headquartered in Chicago. However, WPP's Kinetic will continue to oversee out-of-home media, while MEC was reappointed for Molson Coors Canada. In the UK, Publicis-owned Zenith was reappointed to the local business.
Adbrands Weekly Update 6th Oct 2016: As it prepares to take ownership of SABMiller's stake in the US MillerCoors joint venture later this month, Molson Coors called a global review of media. This is currently split three ways. In its biggest market, the US, the account is managed by Initiative, with MEC handling Canada. In the UK, the business is held by ZenithOptimedia. The group is said to be seeking a single network to handle all three markets.
Adbrands Weekly Update 18th Feb 2016: Analysts are hoping that Molson Coors' proposed buyout of MillerCoors in the US later this year will result do something to reignite performance after disappointing figures for 2015 from both businesses. Molson Coors' revenues of $3.6bn were down sharply year-on-year, even at constant exchange rates; volumes, and operating profits and net profits (of $360m) were also all lower than the year before. MillerCoors - soon to be wholly owned by Molson Coors - saw a similar decline in revenues to $7.7bn and in net income to $1.2bn.
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