MillerCoors, which will begin operating as a combined entity from today, 1 July 2008, is positioning itself as a dynamic, brand-led US brewer with the scale, resources and distribution platform to succeed in the highly competitive marketplace.
Graham Mackay, Chief Executive of SABMiller, said, “[This] is an historic day in the American beer business, not only for the shareholders of both SABMiller and Molson Coors, but for MillerCoors consumers, employees, distributors and business partners. Now that the transaction has closed and MillerCoors is a reality, the strong leadership team we have put in place is ready to execute and realise the tremendous potential of this great organisation.”
Leo Kiely, Chief Executive of MillerCoors, said, “MillerCoors will be entrepreneurial, with the ability to operate with speed and agility in the marketplace, backed by the powerful combined resources of two exceptionally successful companies. We will drive profitable growth and bring new energy to the US beer industry. Our focus now is to deliver on the US$500 million in identified annualised cost synergies by improving sourcing across our eight major breweries, building a streamlined organisation and leveraging the scale of the new company. Our talented people are experienced and passionate about this business and - importantly - are determined to win.”
SABMiller and Molson Coors have each named five representatives to the MillerCoors Board of Directors, as follows:
• Pete Coors, Vice-Chairman of Molson Coors Brewing Company and Chairman of the MillerCoors Board
• Graham Mackay, Chief Executive Officer of SABMiller plc and Vice-Chairman of the MillerCoors Board
• Peter Swinburn, President and Chief Executive Officer of Molson Coors
• Sam Walker, Global Chief Legal Officer and Corporate Secretary of Molson Coors
• Stewart Glendinning, Global Chief Financial Officer of Molson Coors
• Dave Perkins, President, Global Brand and Market Development of Molson Coors
• Malcolm Wyman, Chief Financial Officer of SABMiller plc
• Nick Fell, Group Marketing Director of SABMiller plc
• Johann Nel, Group Human Resources Director of SABMiller plc
• Sue Clark, Corporate Affairs Director of SABMiller plc
“As a unified company with a world-class board and leadership team in place, MillerCoors will be able to create tremendous opportunities for innovations in products and services that will allow us to drive profitable growth,” said Pete Coors, Chairman of MillerCoors.
Molson Coors Brewing Company brews, markets and sells a portfolio of leading premium quality brands such as Coors Light, Molson Canadian, Molson Dry, Carling, Coors, and Keystone Light in North America, Europe and Asia. It is listed on New York and Canadian stock exchanges. For more information, visit: www.molsoncoors.com.
Listed on the London and Johannesburg stock exchanges, SABMiller is one of the world's largest brewers with interests or distribution agreements in over 60 countries across six continents. The group's brands include premium international beers such as Miller Genuine Draft, Peroni Nastro Azzurro, Grolsch and Pilsner Urquell, as well as an exceptional range of market leading local brands. For more information, visit: www.sabmiller.com.
