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June 01, 2015 10:35 PM ET

Beverages

Company Overview of MillerCoors LLC

Company Overview

MillerCoors LLC, along with its subsidiaries, engages in brewing, marketing, and selling a portfolio of crafted beers, and pear and apple ciders in the United States and Puerto Rico. The company also imports and distributes beers. It sells its products through its online merchandise stores, as well as brewery shops. The company was founded in 2008 and is headquartered in Chicago, Illinois with additional offices in Golden, Colorado; and Milwaukee, Wisconsin. It has breweries 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 operates as ...

250 South Wacker Drive

Chicago, IL 60606

United States

Founded in 2008

Phone:

414-277-5000

Fax:

414-271-3552

Key Executives for MillerCoors LLC

Chief Executive Officer
Age: 55
Chief Financial Officer
President of Tenth and Blake Beer Company
Age: 59
Chief Marketing Officer and Executive Vice President
Chief Integrated Supply Chain Officer and Executive Vice President
Age: 54
Compensation as of Fiscal Year 2014.

MillerCoors LLC Key Developments

MillerCoors Announces Management Changes

The Board of Directors of MillerCoors named Gavin Hattersley to the role of interim Chief Executive Officer to lead the business when current CEO Tom Long retires on June 30, 2015. Hattersley, 52, currently Chief Financial Officer (CFO) of Molson Coors and former CFO of MillerCoors, will serve as interim CEO for up to six months until the Board completes its search for a permanent successor. Hattersley will continue as CFO of Molson Coors while serving as interim head of the US business. Prior to his current role, Hattersley served as executive vice president and chief financial officer for MillerCoors, where he was recognized for establishing strong financial management and commercial disciplines for the business unit.

MillerCoors LLC Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Reports Production Results for the First Quarter Ended March 31, 2015

MillerCoors LLC reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $1,774.6 million against $1,790.4 million a year ago. Operating income was $309.3 million against $297.5 million a year ago. Income before income taxes and non-controlling interests was $310.3 million against $297.5 million a year ago. Net income attributable to the company was $304.6 million against $291.2 million a year ago. Non-GAAP underlying net income was $304.6 million against $291.9 million a year ago. The company reported underlying earnings before interest, taxes and amortization before exceptional items (EBITA) of $345.2 million against $319.4 million a year ago. This income growth was driven by higher net pricing, positive sales mix and strong cost control. Additions to tangible and intangible assets totaled $76.3 million. The company reported production results for the first quarter ended March 31, 2015. For the quarter, total company net revenue per barrel, including contract brewing and company-owned distributor sales, increased 1.5%. Third-party contract brewing volumes were down 1.0%.

California Drinker Sues MillerCoors LLC over its Classification and Promotion of its Blue Moon Brand as Craft Beer

A California drinker has sued MillerCoors LLC over its classification and promotion of its Blue Moon brand as a craft beer. The class-action suit filed in San Diego County Superior Court raises the question: What is a craft beer? And asks a judge, or judges, to decide. Evan Parent claims that MillerCoors and its Blue Moon Brewing Co. unit deceived him by advertising Blue Moon as a craft beer produced in the small SandLot brewery inside Coors Field, when the beer is actually made in large plants in Golden and Eden, North Carolina. The plaintiff, said he willingly paid extra for six packs of the beer for years, before friends brought him up to speed on its allegedly non-crafty affiliation. He is demanding restitution for the extra couple of bucks he spent on all those six-packs, plus a finding that MillerCoors engaged in deceptive and misleading advertising and unfair competition.

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