DENVER & MEXICO CITY--(BUSINESS WIRE)--Molson Coors Brewing Company (NYSE:TAP) and Grupo Modelo, S.A.B de C.V. announced today that they have agreed on key terms that will make Molson Coors the distributor of the Modelo family of brands in the UK and Channel Islands, and Japan, effective January 2011.
Today’s announcement builds on the strong Molson Coors-Modelo relationship in Canada. Under the new agreement, Molson Coors’ organizations in the UK and Japan will be responsible for importing, selling and marketing the Modelo brands country-wide.
Mark Hunter, CEO of Molson Coors UK, commented, “We are delighted to serve as distributor of Modelo’s portfolio of brands in the UK and Channel Islands. Among their many strong brands, Corona Extra is one of the world’s top 5 beer brands and as an established premium lager, is a great addition to our growing portfolio of world beers. We are committed to providing significant marketing support behind these brands for the benefit of our beer drinkers, our partner Modelo and Molson Coors UK.”
Corona Extra accounts for 90% of the distribution of Grupo Modelo’s products in the UK. Other prominent brands in the Modelo portfolio include Coronita (210 ml bottles of Corona), Modelo Especial, Pacífico, and Negra Modelo.
President of Molson Coors International, Kandy Anand, stated, “We look forward to working with our Modelo partners to help expand and grow our Japanese portfolio. By combining Corona's strong brand image with our proven marketing capability with ZIMA, we will have an even more compelling set of brands to appeal to Japanese drinkers. This truly is a win-win for Modelo and Molson Coors alike.”
José Parés, Vice-president, Chief Sales and Marketing Officer for Grupo Modelo, commented, “We are pleased to be extending our relationship with Molson Coors into the UK and Japan. Modelo and Molson Coors are two major beer groups with complementary brand portfolios. This new partnership will allow us to collaborate in offering our consumers a wide range of products to satisfy different needs at different moments.”
Today’s agreement between Molson Coors and Grupo Modelo is subject to the successful completion of detailed, legally binding agreements and the obtainment of all necessary approvals and authorizations.
About Molson Coors Brewing Company
Molson Coors Brewing Company is a leading global brewer delivering extraordinary brands that delight the world’s beer drinkers. It brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Blue Moon, and Keystone Light across North America, Europe and Asia. It operates in Canada through Molson Coors Canada; in the U.S. through MillerCoors; and in the U.K. and Ireland through Molson Coors UK. For more information on Molson Coors Brewing Company and our portfolio of brands, visit the company's website, www.molsoncoors.com.
About Grupo Modelo
Grupo Modelo, founded in 1925, is the leader in Mexico in beer production, distribution and marketing, with 63.3% of the total (domestic and export) market share, as of December 31, 2009. It has a total annual installed capacity of 65 million hectoliters. Currently, it brews and distributes 13 brands, including Corona Extra, the number one Mexican beer sold in the world, Modelo Especial, Victoria, Pacífico and Negra Modelo. It exports six brands and is present in more than 160 countries. It is the importer of Anheuser-Busch InBev’s products in Mexico, including Budweiser, Bud Light and O’Doul’s. It also imports the Chinese Tsingtao brand and the Danish beer Carlsberg. Through a strategic alliance with Nestlé Waters, it produces and distributes in Mexico the bottled water brands Sta. María and Nestlé Pureza Vital, among others. Grupo Modelo trades in the Mexican Stock Exchange since 1994 with the ticker symbol GMODELOC. It also quotes as an ADR under the ticker GPMCY in the OTC markets and in Latibex in Spain as XGMD.