Latest news with #MolsonCoors'
CNN
4 days ago
- Business
- CNN
Blue Moon, the orange-flavored beer, is being turned into a lip balm
The vibrant burst of orange flavor emanating from a Blue Moon is so lip-smacking good that it's being turned into a lip balm. The Molson Coors-owned brand is partnering with Eos, a popular beauty company, to make a lip balm inspired by the punchy, Valencia orange flavor that's brewed into a Blue Moon beer. The limited-edition product is 'intended' for legal-aged drinkers and goes on sale Wednesday at Eos' and Blue Moon's website for $4.99. The citrus-inspired balm is packaged in Eos' orange-colored sphere and 'delivers the same refreshing, juicy taste' of the beer, according to a press release. The orange-shaped product is debuting during the summer, when beer — and Blue Moon — sales typically peak as people stock up on brews for their summertime activities. 'The Valencia orange is more than a garnish. It's a core part of our identity and what makes a Blue Moon a Blue Moon,' Courtney Benedict, vice president of marketing for Molson Coors' Above Premium Beer, said in the release. The lip balm is a small part of Molson Coors' larger plan to revive the brand, which has declined amid a broader slowdown in craft beer sales. Blue Moon has lost market share of the total dollars spent at US restaurants and bars over the past year by about half a percentage point, according to data compiled by Fintech and the National Beer Wholesalers Association. However, it's still the country's top-selling craft beer brand. The decline has prompted Molson Coors to re-examine the 30-year-old brand, rolling out refreshed packaging that re-emphasizes the Valencia orange along with a new marketing campaign. The company also has added a light version and a non-alcoholic beer to Blue Moon's portfolio in an effort to attract new and lapsed drinkers. Molson Coors (TAP) recently reported dismal earnings, including a 42% drop in first-quarter net income. It also cut full-year guidance over tariffs concerns and economic uncertainty that it says is causing people to cut back on beer. Shares are down nearly 9% for the year.
Yahoo
15-04-2025
- Business
- Yahoo
Molson Coors to lose CEO Gavin Hattersley by the end of 2025 after transformational run and record $11.6 billion revenue milestone
Molson Coors CEO Gavin Hattersley plans to retire by the end of 2025 after a transformational tenure marked by record financial performance and strategic diversification beyond brewing. The company says it has launched a formal search for his successor. Gavin Hattersley, the long-serving CEO of Molson Coors, has announced his intention to retire by the end of 2025, capping off a tenure that saw the Coors and Blue Moon maker achieve record financial performance and expand beyond its traditional brewing roots. The company's board has begun a formal search for his successor, considering both internal and external candidates. The search will be overseen by the board's Governance Committee as part of Molson Coors' existing succession planning process. Hattersley, who joined the company in 2002 following SABMiller's acquisition of Miller Brewing, has been at the helm of Molson Coors since 2019. During his tenure, Molson Coors launched a strategic "revitalization plan" to return the business to growth, followed by an "acceleration plan" that expanded its premium portfolio, helped it reduce net debt by nearly 40% since the end of 2019, and reach annual net sales revenue of $11.6 billion. Under his leadership, the company formed new partnerships—including a joint venture with Yuengling and new U.S. commercialization rights to Fever-Tree—and entered markets beyond beer, with launches in hard seltzers, ready-to-drink cocktails, spirits, and mixers. 'He's put our company on a path to an even brighter future,' said David Coors, vice chair of the board. The company also delivered two consecutive years of record revenue and earnings under Hattersley's leadership. In Q4 2024 alone, Molson Coors exceeded expectations with $2.74 billion in revenue and an earnings-per-share of $1.30, beating forecasts of $2.71 billion and $1.13 per share, respectively. Molson Coors' stock is currently up 5.75% year to date at the time of writing. 'Gavin has been a steady hand at the wheel as CEO, navigating through incredible challenges while guiding our company to growth,' said Chairman Geoff Molson. 'He leaves behind a stronger foundation and a brighter future for Molson Coors.' Molson Coors will release its Q1 2025 earnings on April 29, providing further insights into the company's trajectory as it transitions to new leadership. This story was originally featured on Sign in to access your portfolio
Yahoo
30-01-2025
- Business
- Yahoo
Molson Coors Takes 8.5% Ownership Stake In Fever-Tree To Stir Up US Mixer Game: Details
Molson Coors Beverage Company (NYSE:TAP) has formed a strategic alliance with Fever-Tree Drinks plc to broaden its portfolio of non-alcoholic drinks in the U.S. Beginning on February 1, 2025, Molson Coors will take on exclusive rights for the marketing, distribution, and co-manufacturing of Fever-Tree's premium mixers, such as tonics and ginger beers, throughout the country. Also, Molson Coors has acquired an 8.5% ownership stake in Fever-Tree, positioning itself as the second-largest shareholder in the mixer brand. The financial terms were not disclosed. This collaboration supports Molson Coors' recent momentum, which also includes its purchase of a majority stake in ZOA Energy in 2024. The partnership is expected to boost Molson Coors' effort to diversify its product offerings, catering to both alcoholic and non-alcoholic consumer preferences. Related Read: Founded in the U.K. in 2004, Fever-Tree holds the title of the leading tonic and ginger beer brand in the U.S., according to Nielsen. The U.S. remains Fever-Tree's prominent market, playing a crucial role in its global revenue. Molson Coors aims to leverage Fever-Tree's strong presence in the U.S. by utilizing its extensive distribution capabilities and commercial reach. The company's 'Beyond Beer' strategy has been gaining traction, particularly with its expansion into the premium non-alcoholic beverage sector. Along with its investment in Fever-Tree, Molson Coors is set to launch Naked Life, Australia's top non-alcoholic ready-to-drink cocktail, to U.S. consumers this spring. Recently, U.S. Surgeon General Murthy issued an advisory warning alcohol consumption could raise cancer risk. Price Action: TAP shares closed higher by 0.09% at $54.95 on Wednesday. Read Next:Photo via Shutterstock. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? MOLSON COORS BEVERAGE (TAP): Free Stock Analysis Report This article Molson Coors Takes 8.5% Ownership Stake In Fever-Tree To Stir Up US Mixer Game: Details originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
30-01-2025
- Business
- Yahoo
Molson Coors Beverage Company Announces Strategic Partnership With Fever-Tree in U.S.
The deal gives Molson Coors exclusive commercialization rights to Fever-Tree's U.S. portfolio, alongside an equity investment by Molson Coors into Fevertree Drinks plc Partnership designed to fuel Molson Coors' Premiumization and Beyond Beer strategies CHICAGO, January 30, 2025--(BUSINESS WIRE)--Molson Coors Beverage Company ("Molson Coors" or "the company") (NYSE: TAP, TAP.A) is expanding its U.S. non-alc portfolio through a new strategic partnership with Fevertree Drinks plc ("Fever-Tree"), the world's leading supplier of premium carbonated drinks and mixers. Starting February 1, 2025, Molson Coors will assume exclusive commercialization rights to Fever-Tree's award-winning lineup of tonics, ginger beers, cocktail mixers and more in the U.S. and will be responsible for co-manufactured production, marketing, sales and distribution of the brand in the U.S. The move is a significant step forward in Molson Coors' strategic ambition to build a total-beverage portfolio for a wide range of consumer preferences across traditional alcohol occasions and non-alc occasions alike. "Our strategic partnership with Fever-Tree in the U.S. is a meaningful step in Molson Coors' journey to becoming a total-beverage company with a winning portfolio of drinks for a wide variety of consumer occasions. We've made progress here, and today we are building on that progress in a significant way with Fever-Tree as the latest and largest non-alc brand to join our portfolio," Molson Coors Chief Executive Officer Gavin Hattersley said. "The U.S. is our biggest global market by revenue, and the same is true for Fever-Tree, so we believe this partnership provides ample opportunity for our teams to build on the strong success Fever-Tree has achieved to date. Our customers have been asking for a brand just like Fever-Tree from us, and by leveraging the scale, strong relationships and expertise of our team at Molson Coors, I'm confident in the road ahead for Fever-Tree as part of Molson Coors' growing set of non-alc offerings in the U.S." Established in the UK in 2004, Fever-Tree has become a proven leader in a high-growth, above premium space. Drinks International voted it the 'Number One Top Selling Mixer' and 'Number One Top Trending Mixer' for 11 years running, while the New York International Spirits Competition voted it 'Mixer Brand of the Year' for four years running. In the U.S., Fever-Tree's largest global market by revenue, the brand has consistently built on its first-mover advantage, and in doing so has become the #1 tonic and ginger beer brands nationwide, per Nielsen [since 2007]. Molson Coors plans to build on the position Fever-Tree has already established in the U.S. by leveraging its core strengths, commercial scale and supply chain expertise to expand distribution, grow brand awareness, and create a solid runway for long-term growth in the U.S. market. "Fever-Tree is the perfect fit for our growing portfolio of non-alc beverages. The quality is unmatched, the variety is fantastic, and the brand has achieved impressive scale in the U.S. and we believe there is more runway ahead," Molson Coors Chief Commercial Officer Michelle St. Jacques said. "Fever-Tree sits at the intersection of beer and non-alc and is often available in stores where beer is sold, so it perfectly complements our Beyond Beer and premiumization strategies, playing in both alcohol occasions and non-alc occasions. We're excited to welcome Fever-Tree into our portfolio as we work to reach more consumers and unlock growth in new channels and outlets across the U.S." Underpinning the partnership and reflecting Molson Coors' long-term focus on – and belief in – the opportunity, the company has agreed to acquire an 8.5% stake in Fevertree Drinks plc, resulting in Molson Coors becoming Fever-Tree's second largest shareholder. "Today's announcement marks a transformational step for the Fever-Tree brand in the US and is not only a reflection of how far we have come since first entering the market in 2008 but also how the opportunity ahead for the brand continues to grow," said Fever-Tree CEO, Tim Warrillow. "With a national network providing scale and muscle, proven track record, supply chain expertise and clearly stated strategic desire to drive the future of their business beyond beer, Molson Coors are the ideal partner to take the Fever-Tree brand to the next level across the US." The partnership with Fever-Tree builds on Molson Coors' strong recent momentum in the advancement of its Beyond Beer and premiumization strategy. The company took a majority stake in ZOA Energy in November 2024 and has since expanded distribution into new accounts and channels. Additionally, Molson Coors is preparing to bring Naked Life, Australia's #1 non-alc RTD cocktail, to the U.S. this spring. Molson Coors and Fever-Tree's strategic partnership is subject to customary closing conditions. ABOUT MOLSON COORS BEVERAGE COMPANY For more than two centuries, Molson Coors has brewed beverages that unite people for all life's moments. From our core power brands Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling, and Ožujsko to our above premium brands including Madrí Excepcional and Staropramen, Blue Moon Belgium White and Leinekugel's Summer Shandy, to our economy and value brands like Miller High Life and Keystone Light, Molson Coors produces some of the most beloved and iconic brands. While Molson Coors history is rooted in beer, it offers a modern portfolio that expands beyond the beer aisle as well, including flavored beverages like Vizzy Hard Seltzer, spirits like Five Trail whiskey and non-alcoholic beverages. Molson Coors also has partner brands, such as Simply Spiked, ZOA Energy, among others, trough license, distribution, partnership and joint venture agreements. As a business, our ambition is to be the first choice for our people, our consumers and our customers, and our success depends on our ability to make our products available to meet a wide range of consumer segments and occasions. To learn more about Molson Coors Beverage Company, visit ABOUT FEVER-TREE Fever-Tree is the world's leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, with distribution to over 90 countries worldwide. Based in the UK, the brand was launched in 2005 to provide high quality mixers which could cater to the growing demand for premium spirits, in particular gin, but also increasingly for vodka, rum and whisky. The Company sells a range of carbonated mixers to hotels, restaurants, bars and cafes ("On Trade") as well as selected retail outlets ("Off Trade"). FORWARD LOOKING STATEMENTS This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws. Generally, the words "expects," "intend," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefits," "potential," "projects," "strategies," "implies," and variations of such words and similar expressions are intended to identify forward-looking statements. Statements that refer to projections of our future financial performance, our anticipated growth and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, statements regarding Molson Coors' strategy, its expectations regarding premiumizing its portfolio and the anticipated consummation of the strategic partnership and the timing and benefits thereof. Although Molson Coors believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Actual events or results may differ materially from those contained in the forward-looking statements due to risks, uncertainties and assumptions. These risk factors include those detailed in Molson Coors' public filings with the Securities and Exchange Commission (the "SEC"), including its most recent Annual Report on Form 10-K and subsequent filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Molson Coors does not undertake to update any forward-looking or other statements in this release, except as required by law. View source version on Contacts Media inquiries Molson Coors: Rachel Gellman Johnson, Senior Director, Corporate Reputation: Fever-Tree: Oliver Winters, Director, Communications: Investor inquiries Molson Coors: Traci Mangini, Vice President, Investor Relations: Fever-Tree: Ann Morris-Gibbons, Director of Investor Relations: Sign in to access your portfolio
