Molson Coors Forges New Partnership With Emerging Nonalcohol Beverage Leader L.A. Libations

CHICAGO, Nov. 18, 2019 /PRNewswire/ -- Molson Coors and L.A. Libations today announced a multiyear partnership that includes a significant minority equity investment by Molson Coors in L.A. Libations as well as category-exclusive access to the company's services. Molson Coors also will hold two seats on the L.A. Libations board.

L.A. Libations specializes in identifying next-generation emerging beverages, particularly for the untapped needs of health-conscious consumers. In addition to creating and nurturing new brands, L.A. Libations also partners with brands to provide retail selling and in-store execution services. The two companies have worked together over the past year as L.A. Libations helped Molson Coors begin to expand the Clearly Kombucha brand it acquired in June 2018.

The equity investment gives Molson Coors a stake in new products launched by L.A. Libations and the multiyear, category-exclusive agreement gives Molson Coors access to brand creation, brand building and consulting/insights services from L.A. Libations. With brands created by L.A. Libations, Molson Coors will have the option to purchase the brand in full. For brands it does not purchase, Molson Coors still will hold a financial stake in L.A. Libations' ownership of the brand.

"Developing a strong portfolio outside the traditional beer category is an important part of our long-term strategy, and this partnership with L.A. Libations enables us to pursue opportunities in this space without needing an extensive nonalcohol infrastructure," said Pete Marino, president of emerging growth for Molson Coors. "Their expertise in creating and nurturing brands is especially valuable at a time when much of the growth in the beverage industry is coming from brands and categories that often were nonexistent five years ago."

For L.A. Libations, which is the emerging beverage category captain for several major U.S. retailers, the partnership provides an opportunity to invest additional resources in its ideas and capabilities.

"We are honored that Molson Coors has chosen L.A. Libations as their emerging brand partner, and we intend to jointly become a major player in the nonalcohol space," said Danny Stepper, co-founder and CEO of L.A. Libations. "This strategic partnership with Molson Coors is an important step for our company, brands and partners, as it unlocks access to brand-building capital, capabilities and efficiencies towards utilization of a world-class distribution network."

About Molson Coors
Molson Coors has defined brewing greatness for more than two centuries. As one of the largest global brewers, Molson Coors works to deliver extraordinary brands that delight the world's beer drinkers. From Coors Light, Coors Banquet, Miller Lite, Molson Canadian, Carling, Staropramen and Sharp's Doom Bar to Leinenkugel's Summer Shandy, Blue Moon Belgian White, Hop Valley, Creemore Springs and Crispin Cider, Molson Coors offers a beer for every beer lover.

Molson Coors operates through Molson Coors Canada, MillerCoors in the U.S., 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 North America Index for the past eight years. To learn more about Molson Coors Brewing Company, visit molsoncoors.com, ourbeerprint.com or on Twitter through @MolsonCoors.

About L.A. Libations
Founded by three best friends and beverage executives in 2009, L.A. Libations is a next generation beverage creator and incubator specializing in emerging brands.  L.A. Libations (LAL) has established itself as a best-in-class entrepreneurial beverage company by forging industry successes, enjoying investment events, and prized brand exits with some of the biggest beverage companies in the world.  As the Emerging Beverage Category Captain and a trusted advisor to many of the country's largest retailers, LAL drives innovation in the "better for you" category growth.  LAL has provided services for established brands, such as:  Zico Coconut Water, Core Water, Body Armor; partnered with emerging brands like Space Shake, Limitless, and Well Well; or created brands such as Gloe, and Arriba Chelada. To learn more about L.A. Libations, visit www.lalibations.com or on Instagram through @lalibations.

SOURCE Molson Coors

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