Molson Coors buys Doom Bar brewer
Molson Coors has announced the purchase of UK brewery Sharp’s, which produces Doom Bar, in a deal believed to be in the region of £20 million.
The news comes hot on the heels of a hugely successful year for Sharp’s, which saw profit quadruple in 2010, while turnover grew by 40% from £11.4 million to £16.1m.
Pre-tax profits, meanwhile, grew from £428,225 to £1.63m in the year ending Oct 2010. Sales of Doom Bar alone jumped by 51% on the year.
Mark Hunter, chief executive of Molson Coors (UK & Ireland) said: “The Doom Bar brand is modern and progressive. It has a loyal following and excellent reputation amongst consumers and customers alike and has the potential to become a truly extraordinary brand.
“We have a wealth of experience with this type of venture and an excellent track record of building brands across all markets. We respect and want to preserve the unique culture of Sharp’s Brewery and the special appeal of their brands to beer drinkers.”
Nick Baker, managing director at Sharp’s Brewery, added: “We have worked exceptionally well with Molson Coors for many years and they have played an important part in the growth of Sharp’s Brewery.
“We recognised that they have the capabilities, comprehensive routes to market and the culture to build on and accelerate the progress the business is making which is why we are delighted to have done this deal.
“It was, and is, important to us to know how Molson Coors will manage Sharp’s and their plan to invest in developing the brewery at Rock and the Doom Bar brand is spot on. We are excited to watch Sharp’s Brewery achieve even more under their stewardship.”
Doom Bar is the latest in a series of recent extensions to Molson Coors’ portfolio, including Cobra, Singha, Corona and Blue Moon.
Alan Lodge, 02.02.2011