Molson Coors has announced the formation of a new business segment, Molson Coors Europe, by combining its existing businesses in the UK and Ireland with its business in nine Central European countries.
Headquartered in Prague, Molson Coors Europe will comprise approximately 23.6 million hectoliters of volume and $2.3bn of net sales revenue on a pro forma US GAAP basis for 2011. These figures represent approximately 38% of Molson Coors Brewing Company’s 2011 pro forma worldwide beer volume and 30% of global net sales revenue.
Peter Swinburn, CEO, Molson Coors, said: “He brings a wealth of experience and a strong track record of performance in global markets that will help drive our growth strategy for many years to come. This move makes us a stronger competitor.
“It allows us to use our go-to-market resources more effectively in the region and promotes better sharing of commercial best practice and marketing expertise. With a larger European footprint, we’ll be able to negotiate better terms with suppliers, improve processes and integrate systems to increase efficiencies.”
Source: Molson Coors
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