SABMiller and Molson Coors to Form MillerCoors

DENVER — SABMiller plc and Molson Coors Brewing Co. have signed a letter of intent to combine the U.S. and Puerto Rico operations of their Miller and Coors subsidiaries. The new company, which will be called MillerCoors, is projected to have annual beer sales of 69 million U.S. barrels and net revenues of approximately $6.6 billion. “As a result of this combination, Miller and Coors will be able to provide more focused support for our flagship brands, while taking full advantage of consumers’ demand for imported and craft brands and innovative products,” said Leo Kiely, chief executive of Molson Coors, in a statement. “Both companies have a lot of momentum in their businesses today, and I am confident that this will accelerate as we adopt the best practices of both organizations.”

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