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November 28, 2015 7:20 AM ET


Company Overview of MillerCoors LLC

Company Overview

MillerCoors LLC produces, sells, and distributes beers. It markets and sells its products through retailers and distributors. The company was founded in 2008 and is headquartered in Chicago, Illinois. It has locations in Albany, Georgia; Eden, North Carolina; Fort Worth, Texas; Golden, Colorado; Irwindale, California; Chippewa Falls, Milwaukee, and Watertown, Wisconsin; Elkton, Virginia; and Trenton, Ohio. MillerCoors LLC is a subsidiary of Miller Brewing Company, Inc.

250 South Wacker Drive

Chicago, IL 60606

United States

Founded in 2008

Key Executives for MillerCoors LLC

Chief Executive Officer and Director
Age: 52
Chief Financial Officer and Executive Vice President
Chief Executive Officer of Molson Coors Canada and president of Molson Coors Canada
Age: 49
Chief Executive Officer of Molson Coors International and President of Molson Coors International
Age: 57
Director, Chief Executive Officer of Molson Coors Brewing Company and President of Molson Coors Brewing Company
Age: 52
Compensation as of Fiscal Year 2015.

MillerCoors LLC Key Developments

Molson Coors Brewing Company, Anheuser-Busch InBev SA/NV, SABMiller plc, MillerCoors LLC - M&A Call

To enter into a definitive agreement with Anheuser-Busch InBev SA/NV to purchase SABMiller plc's 58% stake in MillerCoors, the joint venture formed in the United States by SABMiller and Molson Coors in 2008

MillerCoors LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

MillerCoors LLC announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported underlying net income declined 8.6% to $344.4 million versus the same period in the prior year, driven by lower volume and increased marketing investment, partially offset by lower cost of sales, positive sales mix and net pricing growth. Total net sales decreased 3.4% to $2.000 billion compared a year ago. Income before income taxes and non-controlling interests was $322.9 million against $382.6 million a year ago. Net income attributable to company was $316.5 million against $376.5 million a year ago. EBITA was $377.6 million against $396.7 million a year ago. For the nine months, the company reported net sales of $5,977.3 million against $6,066.6 million a year ago. Operating income was $1,125.7 million against $1,129.2 million a year ago. Income before income taxes and non-controlling interests was $1,129.3 million against $1.132.5 million a year ago. Net income attributable to company was $1,108.3 million against $1,112.9 million a year ago. Non-GAAP underlying net income was $1,136.2 million against $1,114.3 million a year ago. Underlying EBITA was $1,232.6 million against $1,186.6 million a year ago.

MillerCoors Appoints Gavin Hattersley as CEO

MillerCoors has named Gavin Hattersley to the role of CEO, following former CEO Tom Long, who retired on June 30, 2015. Hattersley, 52, had been serving as the interim CEO of MillerCoors since July 1, 2015 in addition to his role as CFO of Molson Coors. Hattersley's appointment is effective immediately. He follows Tom Long and Leo Kiely as the previous two CEOs of the MillerCoors joint venture. Hattersley and his wife, Terry, will relocate to Chicago. Molson Coors has begun the process of identifying Hattersley's successor as CFO. Hattersley will remain in a dual capacity as MillerCoors CEO and CFO of Molson Coors until mid-November 2015.

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