Tag Archive | "Molson Coors Brewing Company"

Molson Coors Completes €2.65 Acquisition


Molson Coors Brewing Company has completed its previously announced acquisition of StarBev for approximately €2.65 billion. Mark Hunter, chief executive of Molson Coors UK & Ireland business, will serve as chief executive of the new business unit, which has been renamed Molson Coors Central Europe.

Molson Coors Central Europe employs approximately 4,100 people, operates nine breweries and sells its market-leading brands in the Czech Republic, Serbia, Croatia, Romania, Bulgaria, Hungary, Montenegro, Bosnia-Herzegovina and Slovakia. The acquisition includes Staropramen, the business unit’s flagship brand with sales in more than 30 countries worldwide.

Prior to his appointment as chief executive of the UK & Ireland business in 2007, Mark Hunter served as chief commercial officer for Molson Coors Canada where he was responsible for all sales and marketing activities. He worked in a number of senior roles since joining the brewing industry in 1989, including managing the export markets and business unit strategy for Bass Brewers and marketing management of the Carling brand. He also has served on the board of Bass Brewers as marketing director and on the board of Coors Brewers.

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Leadership Changes at Molson Coors UK and StarBev


Molson Coors Brewing Company has appointed Mark Hunter as chief executive of its newly acquired StarBev business. Headquartered in Amsterdam, The Netherlands, and Prague, Czech Republic, StarBev operates nine breweries in Central and Eastern Europe and generated sales of approximately Eur0.7 billion and EBITDA of Eur241 million in 2011.

Mark Hunter, who currently serves as chief executive of Molson Coors’ UK & Ireland business, is a 20-year industry veteran with extensive experience in the European beer business.

Mark Hunter.

StarBev is being acquired from private equity firm CVC Capital Partners for Eur2.65 billion ($3.54 billion). The purchase significantly increases Molson Coors’ international business and exposure to emerging markets.

Prior to his appointment as head of the UK & Ireland business in 2007, Mark Hunter served as chief commercial officer for Molson Coors Canada where he was responsible for all sales and marketing activities. He worked in a number of senior roles since joining the brewing industry in 1989, including managing the export markets and business unit strategy for Bass Brewers and marketing management of the Carling brand. He also has served on the board of Bass Brewers as marketing director and on the board of Coors Brewers.

“Mark is an extraordinary brand builder and a strong leader who knows how to win in a highly-competitive, complex environment. We are fortunate to have a proven leader ready to step into this new business and drive results from day one,” remarks Peter Swinburn, chief executive and president of Molson Coors.

Alain Beyens, current chief executive of StarBev, will leave the business upon close of the transaction with Molson Coors.

Stewart Glendinning, current global chief financial officer for Molson Coors, has been named to replace Mark Hunter as head of the UK & Ireland business. Prior to his current role, Glendinning was chief financial officer for Molson Coors UK, where he was responsible for overseeing all Finance and IT activities within the business.

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Molson Coors to Acquire StarBev For €2.65 Billion


North American beer group Molson Coors Brewing Company is significantly increasing its international business and exposure to emerging markets by acquiring StarBev from private equity firm CVC for Eur2.65 billion ($3.54 billion). Headquartered in Amsterdam, The Netherlands, and Prague, Czech Republic, StarBev operates nine breweries in Central and Eastern Europe (CEE) and generated sales of approximately Eur0.7 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) of Eur241 million in 2011. The purchase price represents a multiple of approximately 11 times EBITDA.

Molson Coors Brewing Company is one of the world’s largest brewers. The company’s operating segments include Canada, the US, the UK, and Molson Coors International (MCI). The company has a diverse portfolio of owned and partner brands, including signature brands Coors Light, Molson Canadian and Carling.

Peter Swinburn, president and chief executive of Molson Coors.

“The acquisition of StarBev fits squarely into Molson Coors’ strategy to increase our portfolio of premium brands and deepen our reach into growth markets around the world,” says Peter Swinburn, president and chief executive of Molson Coors. “The Central and Eastern European beer market is attractive, with strong historical trends and upside potential as the region returns to its pre-economic-crisis growth rates.”

He continues: “StarBev, as a market leader in the CEE region, provides Molson Coors with a great platform for growth and an excellent foundation from which to extend our key brands, such as Carling, into Central and Eastern Europe. Staropramen, StarBev’s international flagship brand, will also enhance our portfolio in some of our current and planned markets.”

StarBev, which employs about 4,100 people, has brewing operations in the Czech Republic, Serbia, Croatia, Romania, Bulgaria, Hungary, Montenegro and also sells its brands in Bosnia-Herzegovina and Slovakia. StarBev brews 13.3 million hectolitres annually and holds a top three market share position in each of its markets. Starbev’s portfolio of more than 20 brands includes local champions such as Borsodi, Kamenitza, Bergenbier, Ozusko, Jelen and Niksicko and also distributes brands such as StellaArtois, Beck’s, Hoegaarden, Lowenbrau and Leffe under license.

Following the acquisition, Molson Coors expects that significantly more of its revenue will come from growth and emerging markets. The CEE markets are expected to benefit from positive volume and per capita consumption trends over the long-term.

Molson Coors expects the transaction to be accretive to earnings in the first full year of operations and to generate approximately $50 million of pre-tax operational synergies by 2015, primarily through production efficiencies, procurement, systems and related areas.

The transaction is subject to approval by certain European competition authorities and is expected to close in the second quarter of 2012. Following the close, StarBev will be operated as a separate business unit within Molson Coors and will remain headquartered in the Czech Republic.

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