Food & Drinks

Molson Coors Beverage Co finalises US$150m brewery sale

Molson Coors Beverage Co has completed the US$150m divestment of its Irwindale brewery in California to Pabst Brewing Co.

Molson Coors’ Irwindale brewery stopped production in January

The transaction, which exercises an option that Pabst has on the facility, was first announced in May. Pabst said it is working to get the plant back in operation following its shutdown in January.

“We are continuing to conduct our feasibility study to determine whether there is a path to reopen and operate the brewery at a later date,” the company said this week.

According to Molson Coors, the Irwindale facility, which opened in 1980, produced 4.8m barrels last year, shipping product to 261 distributors across the US. Molson Coors has produced Pabst brands, including Pabst Blue Ribbon, under contract at its breweries, including Irwindale, since 1999.

Molson Coors launched a wide-ranging restructure programme last year that included a name change and a new focus on non-beer categories. The restructuring also included job cuts and the switch of the company’s headquarters from Denver to Chicago.

This week, the company said it is to trim its portfolio.

Molson Coors Beverage Co Performance Trends 2015-2019 – results data




 

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