Craft beer industry news.
The beer category’s sluggish summer was apparent in Molson Coors’ third quarter earnings, which the company reported last week. Net sales in the Americas declined -11%, driven by a -15.6% decline in financial volumes “and unfavorable foreign currency impacts, partially offset by favorable price and sales mix,” Molson Coors wrote in its earnings report.
Here at the end of election week … it’s much better when it’s beer that is seeing its extremes are widening. BWC broke out the growing divide in ABV preferences in the U.S. since 2022, for sales through Oct. 20 via NIQ data:
In the wake of Tuesday’s election, beer industry trade groups are diving into the changes that could be coming and the potential impact on their members, with shifts across the U.S. Senate, House of Representatives and White House.
Monster Beverage Company reported that it has “restructured” the senior management of its alcohol brands division, following the appointment of Ray LaRue as president, the company shared within its Q3 2024 financial results. Nevertheless, the company said it remains “positive for the prospects of alcohol products within our broader portfolio.”
Lord Hobo Brewing and Lone Pine Brewing announced plans to merge today, bringing together a pair of New England craft breweries under a single ownership structure. The companies declined to share financial terms of the transaction, which is expected to close in Q4, pending regulatory approval.
Molson Coors has acquired a majority stake in energy drink brand ZOA in a $53 million cash transaction, expanding its growing non-alcoholic beyond beer portfolio and adding to rising M&A interest across the energy space.
The U.S.’s total beer supply declined -6.7% year-over-year (YoY) in September, as built-up summer inventories (domestic production plus imports) fell back in line with depletion trends, according to Beer Institute (BI) chief economist Andrew Heritage.
Highland Brewing owner and CEO Leah Wong Ashburn provides an update on how Asheville, one of the country’s great craft beer cities, is recovering in the aftermath of Hurricane Helene.
Molson Coors will cease operations at the Leinenkugel’s Chippewa Falls brewery and the company’s Tenth Street Brewery in Milwaukee, effective January 17.
Coralville, Iowa-based Backpocket Brewing has acquired the Peace Tree Brewing brand and recipes. Peace Tree was founded by Megan McKay 15 years ago in Knoxville, Iowa, making it Iowa’s first 100% woman-owned brewery. McKay had sought a buyer for the brewery since last year, and the company ceased operations this summer.
Metal cans have regained the share of beer volume they lost in the prior year, according to the Beer Institute’s (BI) new packaging mix report. Cans accounted for 64.1% of beer volume in 2023, marking a return to the same share they held in 2021 after a slight dip to 62.9% in 2022.
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Allagash Brewing is heading to the Land of 10,000 Lakes. The Portland, Maine-headquartered craft brewery will enter Minnesota this month with Clear River Beverage Company, it announced in a press release.
The Beer Institute (BI) has named Caitlin Harder its new director of public affairs.
