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Molson Coors creates unit to cultivate high-end beers

Molson Coors creates unit to cultivate high-end beers

Beer drinkers hankering for the finer taste of higher-end brews soon may be able to satisfy their thirst with new products from Molson Coors Brewing Co.
The Denver-based company, one of the world's largest brewers, has formed a small brewing subsidiary called AC Golden Brewing Co. to cultivate above-premium products, joining other large brewers searching for a way to gain a bigger share of the fast-growing market segment already rife with microbrews and craft beer.
In an e-mail to employees last week, Coors Brewing said the brand incubation brewery would introduce products by rolling them out in a slow, deliberate fashion, similar to its launch of Blue Moon White Belgian Ale, an above-premium beer.
Molson Coors did not release cost details of the venture. Company spokeswoman Aimee Valdez said in an e-mailed statement Thursday she did not have additional details on when it will become operational. She said Blue Moon will not be folded into AC Golden Brewing.
It won't necessarily be an easy task and will depend on whether Molson Coors' products can generate a buzz that will set them apart from competitors, analysts said Thursday.
Craft brews have grown recently at double-digit rates, while traditional beer products have grown between 1 percent and 1.5 percent, said Benj Steinman, publisher of the trade publication Beer Marketer's Insights.
For example, Anheuser-Busch Cos. Inc. has introduced dozens of new brands, while Miller Brewing Co. has separated its sales forces for the products, Steinman said.
Sanford C. Bernstein analyst Robert van Brugge said Molson is looking to replicate the success of its Blue Moon White Belgian Ale, which gained local support as it was introduced in different markets.
AC Golden Brewing is one of the initiatives of Peter H. Coors, chairman of Coors Brewing Co. and a descendant of the family that founded Adolph Coors Co. in the 1800s. The company will be led by Glenn Knippenberg.
In its e-mail, Coors Brewing said it planned to adopt a more deliberate rollout for AC Golden Brewing products rather than a major nationwide debut.
Van Brugge said he does not expect the venture to cost much. He also said he did not think it was likely to produce major results early on because of the slower-rollout strategy.
Molson Coors executives have said their goal for the year is to focus on growing brand strength and invest at a mid-single-digit rate in the company's strongest brands _ Coors Light, Keystone Light and Blue Moon.
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http://www.molsoncoors.com


Updated : 2021-06-19 15:05 GMT+08:00