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| Formerly | Molson, Inc. (until 2005) |
|---|---|
| Company type | Publicsubsidiary |
| TSX: TPX.A TSX: TPX.B | |
| Industry | Beverages |
| Founded | 1786; 239 years ago (1786) |
| Founder | John Molson |
| Headquarters | Montreal, Quebec ,Canada |
| Products | Beer |
Number of employees | 3,000 |
| Parent | Molson Coors Beverage Company |
| Website | Molson.ca |
TheMolson Brewery is a Canada-based brewery based inMontreal and was established in 1786 by theMolson family. In 2005, Molson merged with theAdolph Coors Company to becomeMolson Coors.[1]
Molson Coors maintains some of its Canadian operations at the site of Molson's firstbrewery located on theSaint Lawrence River in Montreal.
Founded in 1786, the Molson Brewery is one ofthe oldest breweries in North America and continues to producebeer on the original brewery site.[2][3]
On May 2, 1782,John Molson, age 18, leftEngland forCanada, landing inMontreal on June 26. Shortly after his arrival, he began working at theThomas Loyd brewery. In 1784, Molson sued Thomas Loyd for repayment of a debt. The result was Loyd admitting to the crime, and all of his brewery buildings being put up for auction. Around this time, Molson sensed the market potential for beer in theBritish colony. Prices forwine,rum, and port were rising and an influx of English and Irish immigrants were particularly partial to beer. In January 1785, Molson used the money inherited from his parents to acquire what had been the Thomas Loyd brewery on the shores of theSt. Lawrence, just outside the fortifications of the burgeoning City of Montreal.[4]
In June 1785, he temporarily closed his business to cross theAtlantic for modern equipment and ingredients. Upon his return, he offered the seeds free of charge to neighboring Montreal farmers, who agreed to grow them to satisfy the brewery's need formalt.[5] In 1786, just six weeks after taking the helm, Molson delivered his first brew, anale. Priced at five cents a bottle, his brew sold well.[citation needed]
Molson took advantage of the many business opportunities available at the time. He quickly diversified hisinvestments, opened alumber yard, and began issuingloans to local Montreal merchants. In 1816, the family enterprise began to take shape when founder John Molson entered into an association with his three sons,John Jr.,Thomas andWilliam.[6]
Although brewing proved to be Molson's most sustainable field of endeavour, other activities were added throughout the company's lengthy history. Molson was the first company to own and operate a fleet ofsteamboats,[5] which were used to transport people and goods betweenQuebec andOntario. John Molson and his sons also founded theMolson Bank, which later merged with theBank of Montreal.
Thomas Molson would eventually follow in his father's footsteps by continuing the Molson brewing tradition and upholding high standards of quality. In 1903, inspired by the popularity ofimported beers, Thomas’ grandsonHerbert Molson and brewmaster John Hyde createdMolson Export, an authenticale brewed in the classic style, developed by John Molson.[citation needed]
TheMolson family were pioneers in steamships and hospitality, assisted with theMontreal General Hospital, were patrons ofMcGill University and the arts, and until 1925, were involved in banking throughMolson Bank which merged with theBank of Montreal.[7]
Molson Brewery expanded the breadth of its corporate activities throughout the 20th century. In 1945, the family decided to transform the company into a public,limited-liability enterprise. It then became possible to acquire ownership in the company without being a member of the Molson family. This made it possible for the company to expand intolager and inaugurate a new brewery inToronto (near theCanadian National Exhibition) in 1955.[8] The Crown and Anchor brand of beer dates from this time.[8] Two years later in 1957, the family (not the firm) acquired theMontreal Forum and theMontreal Canadiens. The company continued to develop and, in 1958, acquired six breweries, which included five establishments in Western Canada, giving Molson a nationwide presence. In 1989, the company consolidated market share in Quebec through a merger withCarling O'Keefe (acquiring Carling's Toronto brewery in Etobicoke). As a result, Molson became the largest brewery in Canada and the fifth largest in the world.
Molson was once the owner of home improvement chainsBeaver Lumber andAikenhead's Home Improvement Warehouse. In February 1994, Molson sold a 75% interest in Aikenhead's toHome Depot Inc for $150 million with the option to buy the rest in 1999;[9] in the event, they agreed on a price of $262 million.[10] In 1997, Molson sold for CAD$147 million their interest inReno-Depot toCastorama.[11] In 1999 they sold Beaver Lumber toHome Hardware.[12]
In 2005, Molson merged with US-basedCoors to formMolson Coors Brewing Company. This was followed in 2007 by the opening of a new brewery inMoncton, New Brunswick. Sixth-generation family memberEric Molson retired in 2009; however, his sonsAndrew andGeoff Molson continue to be active in company affairs as members of the corporateBoard of Directors.[13]
On October 11, 2016,SABMiller in the U.S. sold its interests (from the joint venture formed in the United States andPuerto Rico) inMillerCoors toMolson Coors, who had been its partner in the joint venture, for around US$12 billion. Molson Coors gained full ownership of theMiller brand portfolio outside of the U.S. and Puerto Rico, and retained the rights to all of the brands that were in the MillerCoors portfolio for the U.S. and Puerto Rico.[14]
In 2018, the company brewed and marketed a number of the most popular brands of beer in Canada. Domestic labels includeMolson Canadian,Molson M,Molson Export, Molson Dry, Molson Exel Dealcoholized beer,Old Style Pilsner,Rickard's, Creemore Springs, andGranville Island Brewing. Through partnerships with other major brewers, Molson Coors Canada also offers beer brands, includingCoors Light,Miller Genuine Draft,Heineken,Foster's Lager, andTiger. Molson employs 3,000 people in Canada and operates five breweries in locations across the country (Chilliwack,Toronto,Montreal,Moncton, andSt. John's), as well as former micro-breweriesCreemore Springs in Ontario andGranville Island Brewing inBritish Columbia.[citation needed]
Molson Coors Canada is a unit ofMolson Coors with operational headquarters located inToronto (in addition to several breweries across Canada). Molson Coors Canada is part-owner ofThe Beer Store inOntario (Brewers Retail Inc.), operating as a beer distribution and retail chain, which (protected bylegislation) has an over 85% market share of the total Ontario industry beer sales. Molson Coors Canada owns 50% of Brewers Distribution Limited in Western Canada. Molson Coors Canada has the marketing and selling rights forHeineken in Canada.
On 30 October 2019, the Molson Coors Brewing Company announced it would change its name toMolson Coors Beverage Company as a part of a restructuring to take place in 2020.[15] The name change would reflect the company's growing focus on beverages outside of the traditional beer and brewing offerings. Additionally, the company would reorganize its global business units, including Molson Coors Canada, into Molson Coors North America, headquartered inChicago, and Molson Coors Europe, headquartered inPrague.[16][17]
Molson Coors breweries in Canada are in:
Former:
Molson brands includeCarling Black Label,Molson Export andMolson Canadian.
On June 20, 2009, brothersGeoff Molson andAndrew Molson, and their father Eric Molson announced the purchase of 80.1% of theMontreal Canadiens from Colorado businessmanGeorge Gillett. The Canadiens have historically been theNHL's most successful hockey team and last won theStanley Cup in1993. Along with the current majority ownership that the Molson brothers have of the team, the Molson company has owned all or portions of the Montreal Canadiens. In June 2009, the consortium led by the Molson brothers acquired the remaining 19.9% of the team that had been held by the company.
In the second decade of the 21st century, Molson and/or Coors had exclusive rights to sell their beverages at the home arenas of the Montreal Canadiens,Ottawa Senators,Toronto Maple Leafs,Edmonton Oilers,Colorado Avalanche,Arizona Coyotes, andDetroit Red Wings. Their beverages could be purchased at other sports venues, such as the home of theBuffalo Sabres, theKeyBank Center, thePhiladelphia Flyers at theWells Fargo Center, theWashington Capitals at theVerizon Center, andBridgestone Arena, home of theNashville Predators.
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There is a Molsonfonds atLibrary and Archives Canada.[18] Archival reference number is R3088.
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{{cite news}}:|last1= has generic name (help)Becomes World's Third Largest Brewer by Enterprise Value and Strengthens Position in Highly Attractive U.S. Beer Market
