Caution should be taken not to place undue reliance on any such forward-looking statements. Concurrently with the execution of the Purchase Agreement, the Company entered into a bridge facility commitment letter as described in more detail below that the Company believes is sufficient to cover the full cost of the Transaction plus the related fees and expenses.
The Company expects to obtain 3 permanent financing for the Transaction prior to the closing date of the Transaction, which would replace the Facility.
Our reporting segments include: Molson and Coors were founded in andrespectively. Unless otherwise indicated, information in this report is presented in U. The representations and warranties in the Purchase Agreement are the product of negotiations among the parties to the Purchase Agreement and are made to, and solely for the benefit of, the party to whom such representations and warranties are made, in each case as of specified dates.
Coors was incorporated in June under the laws of the state of Colorado.
A copy of the press release and investor presentation are attached hereto as Exhibit The industry was previously founded on local presence with modest international expansion achieved through export, license and partnership arrangements.
The Commitment Letter contains certain conditions to funding which are similar to the closing conditions included in the Purchase Agreement. Coors invented a new printing technology technique which uses ultra-violet light to cure the print, a technique which the company claims is more environmentally sound than the traditional gas firing technique.
Each of the parties is required to use reasonable best efforts to consummate and make effective the Transaction, including with respect to certain regulatory consents and approvals described in the Purchase Agreement.
The Purchase Agreement also contains customary representations, warranties and covenants by each party that are subject, in some cases, to specified exceptions and qualifications contained in the Purchase Agreement. Such forward-looking statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of Our brands are designed to appeal to a wide range of consumer tastes, styles and price preferences.
The Molson Coors Canada division entered the craft beer market with the acquisitions of Creemore Springs Brewery and Granville Island Brewingto create the Six Pints Specialty Beer Company, a subdivision that first was an umbrella for those brands and aiming to include other Molson-owned and affiliated brands.
The merger between the two companies closed on October 10, The commitments under the Facility will be reduced on a dollar-for-dollar basis from the cash proceeds from certain types of debt and equity issued by the Company on or prior to the date of consummation of the Transaction and other specified amounts as provided therein, subject to the terms set forth in the Commitment Letter.
The Company will also pay certain customary fees as described in the Commitment Letter.
The Company has also agreed to take certain actions as are required to obtain antitrust clearance of the Transaction including with respect to certain divestitures and other remediessubject to indemnification by ABI in case of certain divestitures or other remedies that cause a loss to the Company, as described in the Purchase Agreement.
The information being furnished pursuant to Item 7. Forward-looking statements speak only as of the date when made and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
The Facility, if funded, will mature days after the initial borrowings thereunder. The Purchase Agreement may be terminated by the mutual consent of the Company and ABI and also by either party if the Transaction has not been consummated prior to November 11, subject to an automatic extension for six months if all regulatory approvals necessary to consummate the Transaction and the ABI-SABMiller Transaction have not been obtained and other conditions that cannot be satisfied prior to regulatory clearance have not been satisfied.
Our commitment to producing the highest quality beers is a key part of our heritage and remains so to this day. This industry consolidation has resulted in a small number of large global brewers representing the majority of the worldwide beer market.
Our largest markets are the U. There is no financing condition to the Transaction. Industry Overview The brewing industry has significantly evolved over the years, becoming an increasingly global beer market.
The spinoff deal was completed on October 11,  As per the agreement with the regulators, SABMiller sold to Molson Coors full ownership of the Miller brand portfolio outside of the U. From time to time, we may also provide oral or written forward-looking statements in other materials we release to the public.
In addition, statements that we make in this report that are not statements of historical fact may also be forward-looking statements. Coors was not violating the Clean Air Act but was encouraged by the Environmental Audit Privilege and Voluntary Disclosure Act which immunizes and credits organizations for conducting environmental self-audits, which can grant immunity from environmental regulation fines.
The completion of the Transaction is subject to the following closing conditions: More recently, it has become increasingly complex, as the consolidation of brewers has occurred globally, resulting in fewer major global market participants. Words such as "expects," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "future benefits," "potential," "projects," "strategies," and variations of such words and similar expressions are intended to identify forward-looking statements.
Such representations and warranties may have been made for the purpose of allocating contractual risk between the parties to the Purchase Agreement instead of establishing these matters as facts, may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors, and may not be relied upon by any other person.
As the beer industry continues its evolution of consolidation and diversification of its products to meet consumer demand with broadening preferences, large global brewers are uniquely positioned to leverage the scale, depth of product portfolio and industry knowledge to continue to lead the market forward.
In the event that the Purchase Agreement is terminated as a result of the ABI-SABMiller Transaction having been withdrawn or lapsed as described in the Purchase Agreement, ABI has agreed to reimburse the Company for its out-of-pocket expenses incurred in connection with the Transaction other than certain expenses incurred in connection with the issuance of any equity or equity-linked securities or any repurchase of any equity or debt securities.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those indicated both favorably and unfavorably. In addition to the acquisitive element of this industry consolidation, the market continues to utilize export, license and partnership arrangements; however, these are often with the same global competitors that make up the majority of the market.
Although we believe these sources to be reliable, we have not independently verified the accuracy or completeness of the information. The foregoing description of the Purchase Agreement does not purport to be complete, and is qualified in its entirety by reference to the full text of the Purchase Agreement, which is filed herewith as Exhibit 2.Annual Report Scavenger Hunt Find an annual report for a company of your choice and answer the following questions: Who is your company?
• Molson Coors Brewing Co (TAP). Molson Coors Brewing Company Annual Report Molson Coors Brewing Company Annual Report Molson Coors Brewing Company Denver Montreal 17th Street Notre-Dame Street East. Molson Coors Brewing Company (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of This Annual Report on Form K contains forward-looking statements within the meaning of.
Financial and Operational Risk Management at Molson Coors 1 InMolson Coors was the fifth largest brewer in the world, try includes over 10, breweries with combined annual revenue of over $50 billion worldwide.
The major driver of demand is consumer. Creative Report Card. About; Brands; Agencies; Creative Directors; Art Directors; The Molson Coors brand releases cans with the former team’s logo and a campaign celebrating a classic home run call.
By Josh Kolm. March 9, Coors organizes a scavenger hunt for courtside seats. Why the beer brand has turned to Snapchat to get the. Get SEC filings for Molson Coors Brewing Co (TAP), including Annual Report (10k) and Quarterly Report (10Q).Download