-Caveat Lector-
From
http://www.guardian.co.uk/business/story/0,3604,624918,00.html
>>>First the cars, then the aeroplanes, and now the breweries<<<
}}}>Begin
Coors breaks into Britain
Forced sale puts bestselling Carling lager in hands of controversial
family's business
Andrew Clark
Thursday December 27, 2001
The Guardian
Interbrew has settled its long running dispute with competition
regulators by selling Carling, Britain's best selling lager, to the
Adolph Coors Company for �1.2bn.
The deal, completed on Christmas Eve, hands an 18% share of the
British beer market to Coors, which is the third biggest brewer in
the United States. Included in the sale are Worthington and Caffrey's
ale and the UK rights to Grolsch lager.
Coors' breakthrough in Britain is likely to attract close scrutiny from consumer
groups because of the founding family's historic support for rightwing causes.
Many gay and lesbian bars in the US refuse to stock Coors because of the family's
perceived hostility to minorities. The family's charitable trusts have funded
Christian Coalition politicians - including Jesse Helms, Pat
Robertson and Pat Buchanan.
The sale of Carling was forced on Interbrew by the trade and industry secretary,
Patricia Hewitt, who was concerned about the Belgian company's market share - more
than 30%. Interbrew also owns Stella Artois, Tennent's, B
oddingtons, Hoegaarden and Bass Ale.
Interbrew's chief executive, Hugo Powell, said: "All stakeholders, including
management, employees and unions, should be very pleased with this outcome. Interbrew
UK now has the right combination of scale and brand portfo
lio to drive growth in our UK business."
Interbrew bought Carling as part of its �2.3bn purchase of Bass Brewers last year.
After running into regulatory difficulties, the company set aside �750m to cover any
losses on the resale of parts of the business. It is
now to review the size of this exceptional charge.
Coors' existing brands have minimal presence in Britain though there are small mar
keting operations in Scotland and Ireland. Peter Coors, the vice-chairman, told the
New York Times: "This is the first time we've done any
thing of this magnitude."
In the US, Coors has struggled to close the gap behind Anheuser-Busch, the maker of
Budweiser, and Miller, which is owned by Philip Morris.
Mr Coors said: "We've pretty much had all our eggs in one basket. But this deal
broadens and diversifies our portfolio."
Analysts said Coors had paid a higher price than expected for
Carling. There was surprise at the swift conclusion to the sale -
many industry experts had expected Heineken to clinch the
acquisition.
Interbrew was keen for a quick conclusion to the deal; the Belgian
brewer saw its dispute with British regulators as an unwelcome
diversion from expansion. It recently bought Beck's, the German
brewer, and has considered attempting a merger with South African
Breweries.
Guardian Unlimited � Guardian Newspapers Limited 2001
End<{{{
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