WHITE PLAINS, N.Y. and DENVER, June 6, 2017 /PRNewswire/ -- Today, HEINEKEN & Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) jointly announced they have signed a 10-year import agreement whereby Molson Coors will import, market and distribute the Sol brand in the United States through its US division, MillerCoors, beginning this Fall. Sol will continue to be brewed in Mexico.
The agreement offers both brewers an opportunity to focus on key areas of growth within each of their portfolios, while increasing attention and investment toward market opportunities within North America.
For MillerCoors, the agreement helps balance their portfolio with an authentic Mexican beer. Combining Sol's existing brand equity with MillerCoors' sales, marketing, and distribution capability and established nationwide distribution network results in significant development opportunities for both the short and long-term. For HEINEKEN USA, the agreement allows for greater focus and additional investments with their current Mexican portfolio, led by Tecate & Dos Equis—two of the most popular and fastest growing Mexican beers in North America.
Marc Busain, President of HEINEKEN Americas added: "As far as Mexican beers go, HEINEKEN USA is fantastically positioned with two strong brands in Dos Equis and Tecate. This effort helps focus our current portfolio, while accelerating Sol in the short and long-term."
Commenting on the agreement, Mark Hunter, President and CEO of Molson Coors said: "Given the steady growth of the Mexican import segment in the US over the past few years, the addition of Sol represents a key addition to our portfolio. We are excited to be offering consumers even greater choice with the addition of Sol, and are confident we can grow the beer based on the brand's strong equity and the added reach of MillerCoors' national distribution network. This agreement clearly demonstrates the added speed and flexibility that comes with being the single owner of the US business, which allows us to quickly capitalize on strategic opportunities like this."
Sol is an authentically brewed Mexican beer established in 1899, and has been part of the HEINEKEN USA portfolio since 2004. Sol officially entered the global HEINEKEN portfolio following the company's acquisition of the Cuauhtémoc Moctezuma Brewery in 2010.
Upon completion of the 10-year term, HEINEKEN will have the opportunity to reacquire the import rights & responsibilities for Sol.
Financial terms are not disclosed.
Molson Coors Investor Relations
About HEINEKEN USA
HEINEKEN USA Inc., the nation's leading upscale beer importer, is a subsidiary of HEINEKEN NV, the world's most international brewer. Core brands imported into the U.S. are Heineken®, the world's most international premium beer brand, the Dos Equis franchise, the Tecate franchise and Strongbow Hard Apple Ciders. HEINEKEN USA also imports Amstel Light, Newcastle Brown Ale, Indio, Carta Blanca and Bohemia brands. For the latest information on our company and brands, follow us on Twitter @HeinekenUSACorp, or visit HEINEKENUSA.com.
About Molson Coors
With a story that starts in 1774, Molson Coors has spent centuries defining brewing greatness. As the third largest global brewer by enterprise value, Molson Coors works to deliver extraordinary brands that delight the world's beer drinkers. From Coors Light, Miller Lite, Carling, Staropramen and Sharp's Doom Bar to Leinenkugel's Summer Shandy, Blue Moon Belgian White, Hop Valley, Creemore Springs Premium Lager and Crispin Cider, Molson Coors offers a beer for every beer lover. Molson Coors operates through Molson Coors Canada, MillerCoors, Molson Coors Europe and Molson Coors International. The company is not only committed to brewing extraordinary beers, but also running a business focused on respect for its employees, communities and drinkers, which means corporate responsibility and accountability right from the start. It has been listed on the Dow Jones Sustainability World Index for the past five years. To learn more about Molson Coors Brewing Company, visit molsoncoors.com, ourbeerprint.com or on Twitter through @MolsonCoors.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/heineken-and-molson-coors-sign-import-agreement-for-sol-beer-in-the-us-300469320.html
SOURCE HEINEKEN USA