Denver-based Molson Coors Brewing Co. announced Monday that it will combine brewing operations across Europe into a new business unit.
The newly created entity, Molson Coors Europe, will combine existing businesses in the United Kingdom and Ireland with recently-acquired businesses in nine central European countries.
Molson Coors Europe will be headquartered in Prague in the Czech Repulic.
The new unit has annual net sales of about $2.3 billion and represents 38 percent of Molson Coors’ 2011 worldwide beer volume.
“This move makes us a stronger competitor,” Peter Swinburn, chief executive offier of Molson Coors, said in a statement. “It allows us to use our go-to-market resources more effectively in the region and promotes better sharing of commercial best practice and marketing expertise. With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies.”
Earlier this year, Molson Coors completed the acquisition of east European brewer StarBev from private equity group CVC Capital Partners Limited. The deal was valued at $3.54 billion.
Mark Hunter, currently chief executive of Molson Coors Central Europe, has been named head of all European operations.
“Mark has gained deep insight into the central Europe business and he brings extensive first-hand experience with the UK and Ireland to his new, expanded role,” noted Swinburn.
Stewart Glendinning, now chief executive for Molson Coors in the UK and Ireland, will become CEO of Molson Coors Canada upon the retirement of current CEO Dave Perkins at the end of January, 2013.
Steve Raabe: 303-954-1948, sraabe@denverpost.com or
