Molson Coors Beverage Company has completed the sale of its Irwindale brewery property in California to Irwindale Brew Yard, a subsidiary of Pabst Brewing Company.
In January 2020, Molson Coors announced that it would cease production at the 40-year-old facility by September 2020. At the same time, Molson Coors revealed that it had negotiated an agreement with Pabst Brewing for the option of purchasing the Irwindale site for $150 million.
“The sale of the Irwindale facility allows us to streamline our operations for greater efficiency across our network and further strengthen our liquidity,” said Molson Coors chief financial officer, Tracey Joubert.
The Irwindale facility was used to produces brands such as Miller Lite, Coors Light – soon to be renamed Coors – and several brands for Pabst. Molson Coors says it has now transitioned the production to its breweries in Golden, Colorado – which is currently going through a multi-hundred-million-dollar overhaul – and Fort Worth, Texas.
Meanwhile, Pabst is working to get the Californian facility back in operation.
Adam Sher, Irwindale Brew Yard president, added: “We are continuing to conduct our feasibility study to determine whether there is a path to reopen and operate the brewery at a later date and are committed to choosing a path forward that is in the best interest of all our stakeholders.”
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