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MillerCoors has created a separate, independent company to handle its portfolio of craft and import beers.
The company says its Tenth and Blake Beer Company is open for business and will focus on the segments, which are among the fastest-growing in the otherwise stagnant beer industry. The company’s brands include Blue Moon, Leinenkugel’s and Peroni Nastro Azzurro.
MillerCoors says its second-quarter net income rose 28 percent as it benefited from cost-cutting and a smaller decline in the amount of beer sold.
The U.S. brewer of Molson Coors and SABMiller brands says revenue edged down less than 1 percent to $2.13 billion. The company’s sales to retailers fell 2.4 percent. The declined eased from the first quarter, when the figure fell 4 percent.
Anheuser-Busch InBev, the world’s largest brewer, said Monday that a New York arbitration panel has ruled that its ownership of a 50 percent stake in Grupo Modelo is legitimate, dismissing the Mexican beermaker’s $2.5 billion claim.
Ending the dispute could open the way to AB InBev increasing its stake in Modelo, Mexico’s largest brewer and producer of the Corona brand, analysts say. Get the full story »
Pabst Blue Ribbon, the no-frills beer that was lately embraced by thrifty young urbanites, has been acquired by a Connecticut tycoon known for reinvigorating food brands.
Investor C. Dean Metropoulos closed a deal to buy Pabst Brewing Co Friday for an undisclosed sum from the California-based charitable organization that owned it, said Lou Giraudo, who was chairman of the board of Pabst prior to the sale.
Giraudo declined to discuss price other than to say that previously published figures of about $250 million were incorrect. Metropoulos was not immediately available for comment. Get the full story »
In this photo from April 27, 2010, customers visit a redesigned New York Starbucks located in the SoHo neighborhood. Starbucks plans to redesign some stores by combining separate elements from nearly a dozen locations around the globe. (AP Photo/Bebeto Matthews, File)
Starbucks’ “Olive Way” laboratory store near Seattle will be the coffee chain’s biggest percolator yet for ideas that the world’s largest coffee company has been testing separately at nearly a dozen locations around the globe. And what succeeds at Olive Way will most likely be spread to other Starbucks stores around the country.
With muted, earthy colors, an indoor-outdoor fireplace, cushy chairs, and a menu with wine from the Pacific Northwest’s vineyards and beer from local craft brewers, this 2,500-square-foot shop in the Capitol Hill neighborhood will reopen in the fall with espresso machines in the middle.
“It’s going to feel very different,” said Kris Engskov, Starbucks’ regional vice president.
