Welcome to our dedicated page for Molson Coors Beverage news (Ticker: TAP), a resource for investors and traders seeking the latest updates and insights on Molson Coors Beverage stock.
Molson Coors Beverage Company reports developments tied to a global beverage portfolio rooted in beer and expanding into flavored alcoholic beverages, ready-to-drink cocktails, spirits and non-alcoholic beverages. Its brand references include Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling, Ožujsko, Blue Moon Belgian White, Madrí Excepcional, Staropramen, Leinenkugel’s Summer Shandy, Vizzy Hard Seltzer, Simply Spiked and Monaco Cocktails.
Recurring news covers quarterly and annual results across the Americas and EMEA&APAC segments, volume and cost trends, guidance, dividends on Class A and Class B common stock, share repurchase activity, product launches, partner-brand arrangements and portfolio additions such as the completed Atomic Brands acquisition.
Future Proof Brands has achieved a legal victory as the District Court for the Western District of Texas denied Molson Coors' motion to dismiss the trademark infringement claim regarding Brizzy, Future Proof's hard seltzer. This ruling allows the lawsuit to proceed into the discovery phase, where Future Proof aims to investigate market confusion caused by Molson Coors' competing product, Vizzy. The company, recognized for its rapid growth and innovative products, continues to pursue legal action to protect its brand.
Future Proof Brands has made significant progress in their federal trademark infringement case against Molson Coors over similarities between their Brizzy hard seltzer and Vizzy, a competing product. The Fifth Circuit validated Future Proof's trademark and allowed the case to advance to the discovery phase. Future Proof aims to demonstrate market confusion caused by Vizzy's launch. The company, known for its BeatBox beverages, has received accolades for rapid growth and innovation in the beverage sector.
Molson Coors Beverage Company (NYSE: TAP) announced a significant production capacity increase of over 400% at its Fort Worth and Milwaukee breweries. This expansion supports the surging sales of its products like Vizzy, Coors Seltzer, and Blue Moon LightSky, which are among the top-selling innovations in the beverage market. The upgrade includes new canning lines and advanced filtration systems, enabling rapid production to meet consumer demand. Additionally, Molson Coors continues to invest in new breweries and partnerships, underpinning its strategy to expand its above-premium beverage offerings.
Molson Coors Beverage Company (NYSE: TAP) completed the sale of its Irwindale, California brewery to Pabst Brewing Company, with the transaction valued at $150 million. This sale follows Molson Coors's decision in January 2020 to cease production at the facility. The acquisition by Pabst allows for a potential reopening of the brewery, as stated by Irwindale Brew Yard President Adam Sher. Molson Coors aims to enhance operational efficiency and liquidity by transitioning production to its breweries in Golden, Colorado, and Fort Worth, Texas.
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Molson Coors Beverage Company (NYSE: TAP) will host its Q3 2020 Earnings Conference Call on October 29, 2020, at 11:00 a.m. ET, following the earnings release at 7:00 a.m. ET. Executives Gavin Hattersley and Tracey Joubert will participate in the call, addressing investors and analysts. The call will be available via the company's Investor Relations page, with a replay accessible until February 10, 2021. The company, known for iconic beer brands, has expanded its portfolio to include various beverages, emphasizing sustainability.
Molson Coors Beverage Company (NYSE: TAP) has announced an exclusive partnership with The Coca-Cola Company to manufacture and distribute Topo Chico Hard Seltzer in the U.S. This move aims to enhance Molson Coors' above premium portfolio and strengthen its position in the expanding hard seltzer market. The launch is scheduled for 2021, featuring flavors such as Tangy Lemon Lime and Tropical Mango. This represents the third hard seltzer brand for Molson Coors, following the successful launches of Vizzy and Coors Seltzer in 2020.
D.G. Yuengling & Son, Inc. has partnered with Molson Coors Beverage Company to expand the distribution of Yuengling beers beyond the East Coast. This long-term brewing partnership, announced on September 15, 2020, will reach new markets in the western U.S. for the first time. The joint venture, launching in the second half of 2021, will be managed by a board comprising family members and executives from both companies. Yuengling will maintain its identity as a family-owned brewery, continuing to operate separately from the joint venture.
Coors Light is launching a new sweepstakes giving consumers a chance to win trips to their dream destinations, reflecting the growing trend of virtual meetings. Beginning August 27, individuals can submit a screenshot of their ideal video chat background for entry. The campaign, part of the 'Made to Chill' initiative, aims to provide a refreshing escape after months of home confinement. The associated ad will begin airing nationwide on August 30, showcasing safety in production while celebrating outdoor experiences. Eligible participants must be 21 or older and can enter until October 1, 2020.
Molson Coors Beverage Company (NYSE: TAP) is donating 200,000 cans of water to the American Red Cross to assist communities in Louisiana and Texas affected by Hurricane Laura. The water is sourced from the Shenandoah brewery in Virginia and aims to support recovery efforts for first responders and residents. Since launching its water donation program in 2017, Molson Coors has committed to providing over 2 million cans to disaster-stricken areas.