Press release from Business Wire
Molson Coors-Si'hai Beer Company Launches in China
Tuesday, September 21, 2010
DENVER & CHENGDE, China (Business Wire) -- Molson Coors Brewing Company (NYSE: TAP; TSX) announced today that it has finalized its previously announced transaction to buy a 51 percent controlling interest in a joint venture with the Hebei Si'hai Beer Company of China. The new Molson Coors Si'hai Brewing Company will have direct control over the Si'hai brewing operations, including its contract brewing business, and provide opportunities to expand the sales and distribution of a portfolio of emerging brands led by Coors Light and regional Si'hai beers.
“As a leading global brewer, Molson Coors is proud to combine centuries of family brewing heritage and pioneering spirit with a trusted, local brewer such as Si'hai. We are confident that our new joint venture with Si'hai is a stride toward even greater success in China, and together we can continue to grow both of our brands through a commitment to world-class brewing in the world's largest beer market,” said Kandy Anand, president, Molson Coors International.
Mr. Wang Si'hai, president of Si'hai Brewing Company commented, "This is an exceptional partnership between our two companies and I believe we have a very bright future ahead. Molson Coors' global brand expertise and innovation combined with Si'hai's deep understanding of the local market will be a winning formula for beer drinkers across China. We very much look forward to working and growing together.”
Since entering the Chinese market in 2003 with Coors Light, Molson Coors has enjoyed a rapidly growing business with its leading international brand, which is now available in more than 40 cities across China. Coors Light is currently the third-largest super premium brand sold in high-end bars and night clubs throughout the country and has grown an average of approximately 30 percent each year.
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 US 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 Web site, www.molsoncoors.com.
About Hebei Si'hai Beer Company Ltd.:
Hebei Si'hai Beer Company was founded in 2003, located in Chengde city (around 200 km from Beijing). By applying advanced brewing equipment imported from Germany, it brews, markets and sells a full portfolio of high quality beer brands, including Seahi Beer and 20 other beer brands. Its advanced equipment, brewing techniques and high product quality help Si'hai Beer Company achieve its leading position in Chengde and the Hebei area. www.sihaigroup.com