Horrible News! We've put our Canadian beer up for adoption!

[Andem]

Canadian beer giant Molson Inc. announced a $6-billion (U.S.) merger with Adolph Coors Co. Thursday, ending a week of speculation that the two family-controlled breweries would team up against larger rivals.

Confirmation came at the bottom of Molson's fiscal first-quarter earnings, released early Thursday. The merger, subject to shareholder approval, will create the Molson Coors Brewing Company, with combined annual sales of $6-billion and free cash flow of $707-million, the companies said in a press release. It will be the world's fifth biggest brewer, Molson said.


http://www.theglobeandmail.com/servlet/story/RTGAM.20040722.wMolsonX0722/BNStory/Business/

 

[Andem]

Horrible, horrible news! So much for I AM CANADIAN












(on a side note: to be honest, I usually only drink imported beer... or Labatts)

 

[Andem]

The company will have dual head offices in Denver, Colo. and Montreal. Its Canadian operations will be managed from Toronto.

Atleast they will keep a head office in Canada :~(

 

[Haggis McBagpipe]

It still sucks. The Montreal Canadiens, now this, and inevitably one day, the Hudson's Bay Company, which is already 10% American-owned. In the not too distant future, there will be nothing Canadian in Canada except for the citizens.

 

[American Voice]

Re: Horrible News! We've put our Canadian beer up for adopti

I've never cared much for Coors. Molson Golden is great. But I don't think it's a product merger, is it? Aren't they just combining distribution?

If you want a great glass of ale, come to Columbus and go to the Hoster Brewing Company's saloon on South High Street. Their light ale on tap is the finest. Before Prohibition, Columbus had about ten breweries. The King of Bavaria was here one year for Oktoberfest, to sample the beer. That was in 1876, maybe? Prohibition tore the guts out of the local German economy.

 

[LuShes]

Noo not our precious beer!! heavin forbids! Oh my is me! *faints*

 

[American Voice]

Re: Horrible News! We've put our Canadian beer up for adopti

Next it will be playing hockey with Americans!

 

[LuShes]

As I recall the canadians kicked the americans ass in the olympic hockey So we do play hockey with you guys, we just know how to use our sticks, err well you know what I mean.. lol

 

[Numure]

Molsen was a montreal based breweries... As lonjg as its HQ stays here, I'm not against it.

 

[Reverend Blair]

It will most likely stay based in Canada. That's not for patriotic reasons, or even marketing. The fact is that a lot of retirement funds have shares in Molson. Those same retirement funds have restrictions on foreign foreign investment. Coors does not have a similar situation with its shareholders.

If Molson/Coors is operated out of the US a lot of stocks would be sold in order to meet the foreign ownership regulations. That would affect the value of the new company. To avoid that they must keep up the appearance of being Canadian owned and operated.

Of course the truth is that Molson has been a multi-national for decades. It is based in Canada, but stopped being a truly Canadian company years ago.

As for taste...Coors is the mass-market beer I'm most likely to buy when (if they let me in again) I'm in the US. Canadian has been the mass-market beer I've chosen in Canada since stubbies were mandatory and 2-4's were illegal in Saskatchewan.

I tend to drink a lot of imported beer (mostly British and Irish) in the bar and micro-brewed beer at home. I think that's become a pretty common pattern among a lot of people, which is why Molson and Coors have been losing market share in their respective countries for years.

 

[Haggis McBagpipe]

Does anybody remember good old Uncle Ben beer?

 

[crash]

Re: Horrible News! We've put our Canadian beer up for adopti

I think that the bulk of molson products suck.

That being said, due to agressive marketing to all corners of the country and draping the flag over themselves every chance they get Molson is associated with Canadian beer perhaps more than any company. So in that respect it would be sad to see a Canadian beer giant become diluted by an american company.

Might I add I also think Coors sucks pretty bad too so in a way its a match made in heaven

I wouldn't get too worked up yet though, apparently this deal can be quashed very easily if there is not a completely united front from both the board of directors and controlling family of Molson inc.

 

[Reverend Blair]

...and the Molsons haven't been known for getting along for quite some time. If Molson's doesn't do this though (and Coors too), they could quite easily be swallowed up by some other huge brewery.

I'm also wondering about the union thing. I used to go out with a girl whose dad worked for Molson's in Regina. He was fiercly pro-union, as were his friends. Coors used to known for being non-unionized...that's why they were hauling it across the country in a bad Burt Reynolds movie in the 1980s.

I haven't followed things to know if they've changed or not, but that could play a role in whther Coors decides to back out too. The last thing they'd want would be a strong union influence from north of the border.

 

[bevvyd]

Re: Horrible News! We've put our Canadian beer up for adopti

Joe started this. He left Canada for the US and now this.

Joe is not Canadian anymore.

 

[masalla]

1. Who cares?
2. Who drinks that crap?
3. Support your local cottage brewery.

 

[lordroho]

1. Who cares?
2. Who drinks that crap?
3. Support your local cottage brewery.

It's called big business,but you must also ask yourself.....Just how many so called" Canadian"
companies are really 100% Canadian owned?
You will find that the vast majority are made of of various countries but most have large American interests and share holders.
The bottom line is how high the stock price raises...it's called profits before people and sadly it's a fact of life in our fast paced global economy.
It effects everything from the car you drive to the hockey team you cheer for and yes...even the beer you drink!!

 

[lordroho]

It's called big business,but you must also ask yourself.....Just how many so called" Canadian"
companies are really 100% Canadian owned?
You will find that the vast majority are made of of various countries but most have large American interests and share holders.
The bottom line is how high the stock price raises...it's called profits before people and sadly it's a fact of life in our fast paced global economy.
It effects everything from the car you drive to the hockey team you cheer for and yes...even the beer you drink!!

 

[Jo Canadian]

Re: Horrible News! We've put our Canadian beer up for adopti