MOLSON AND COORS TO MERGE
By Adnews Staff
Molson of Montreal and Coors of Golden, CO plan to merge, forming the Molson Coors Brewing Company. The company will be the fifth largest brewer in the world, according to the two firms, with $6 billion in annual sales. Its brands will include Coors Light, Molson Canadian and Carling. Eric Molson, currently chairman of Molson, will become chairman of the board of the new company. Leo Kiely, Coors CEO, will be CEO of the new company. Daniel O'Neill, currently CEO of Molson, will become vice-chairman of synergies and integration. Timothy Wolf, currently COO of Coors, will keep that position in the new firm. Molson Coors Brewing will have executive headquarters in both Colorado and Montreal. The merger, still subject to approval, is expected to close in the fall.