APN News

  • Friday, August, 2020| Today's Market | Current Time: 11:10:02
  • Molson Coors Brewing Company  announced today that it has finalized its previously announced transaction to buy a 51 percent controlling interest in a joint venture with the Hebei Si’hai Beer Company of China. The new Molson Coors Si’hai Brewing Company will have direct control over the Si’hai brewing operations, including its contract brewing business, and provide opportunities to expand the sales and distribution of a portfolio of emerging brands led by Coors Light and regional Si’hai beers.

    “As a leading global brewer, Molson Coors is proud to combine centuries of family brewing heritage and pioneering spirit with a trusted, local brewer such as Si’hai. We are confident that our new joint venture with Si’hai is a stride toward even greater success in China, and together we can continue to grow both of our brands through a commitment to world-class brewing in the world’s largest beer market,” said Kandy Anand, president, Molson Coors International.

    Mr. Wang Si’hai, president of Si’hai Brewing Company commented, “This is an exceptional partnership between our two companies and I believe we have a very bright future ahead. Molson Coors’ global brand expertise and innovation combined with Si’hai’s deep understanding of the local market will be a winning formula for beer drinkers across China. We very much look forward to working and growing together.”

    Since entering the Chinese market in 2003 with Coors Light, Molson Coors has enjoyed a rapidly growing business with its leading international brand, which is now available in more than 40 cities across China. Coors Light is currently the third-largest super premium brand sold in high-end bars and night clubs throughout the country and has grown an average of approximately 30 percent each year.