MOLSON OWNS 100% OF BREWING OPERATION
By Adnews Staff
Foster's Brewing Group of Melbourne, Australia has sold its 50% ownership in The Molson Companies Ltd. to Molson Breweries, as well as its 24.95% stake in Coors Canada for $1 billion. The move means Molson Co. owns 100% of its Molson brewing operations and 49.9% of the Coors Canada company. Foster's will retain its 24.95% interest in Molson USA, which distributes Foster's and Molson brands in the U.S. Molson will continue to produce Foster's beer for distribution in the U.S. and Canada. Existing royalty agreements will remain unchanged. "In acquiring the other 50% of Molson Breweries, we accomplish our primary goal of returning The Molson Companies to its core brewing business," Molson Co. spokesperson James Arnett says in a release.