Fwd: Coors to acquire British brewer

From: Wade T. Smith (wade_smith@harvard.edu)
Date: Tue Dec 25 2001 - 17:18:23 GMT

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    Subject: Fwd: Coors to acquire British brewer
    Date: Tue, 25 Dec 2001 12:18:23 -0500
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    On this day of holiday amongst the culturally xian, I find this news
    item, and I wonder what Carling makes over in that little islet on the
    other side of the big pond, and whether the uberyeast of Coors (which
    makes a most unpalatable brew over on this side) will hurt and hamper.
    Corporate takeovers are, after all, memetic engines.

    - Wade


    Coors to acquire British brewer

    By Associated Press, 12/25/2001

    GOLDEN, Colo. - Adolph Coors Co. said yesterday it will acquire the
    British brewer Carling in a $1.75 billion deal that company officials
    said would help America's number three brewer gain ground overseas.

    As packaged-goods businesses around the world continue a rapid trend of
    consolidation, Coors realized that the bulk of its business was based on
    products from Colorado and it needed to diversify, said Rod Klugman,
    senior vice president for development, said in an interview.

    ''It makes sense for us, if we find opportunities, to play this game
    smartly,'' he said. ''And we found one.''

    Interbrew SA, the Belgian brewer of Stella Artois, Labatt's and Rolling
    Rock, agreed to sell Carling to Coors as part of its own expansion.
    British financial authorities demanded the sale before they will approve
    Interbrew's $3.3 billion acquisition of Bass Brewers.

    The Coors-Carling deal still needs regulatory approval. Company officials
    expected the deal to close in February.

    Klugman said the acquisition of Carling, the number two brewer in the
    United Kingdom, would be Coors's first major step toward global
    consolidation. ''Our sales outside North America are quite small now,''
    he said.

    ''We intend to leverage the strengths of both the Coors and Carling
    organizations to grow market share, profitability and cash flow,'' Coors
    Brewing Co. chairman Peter Coors said in a statement.

    This story ran on page D2 of the Boston Globe on 12/25/2001. Copyright
    2001 Globe Newspaper Company.

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