USA: Molson Coors completes sale of California brewery to Pabst Brewing

Molson Coors Beverage Company and Pabst Brewing Company, LLC announced on November 5 that they have completed the sale of Molson Coors’s Irwindale, Calif., brewery property to Irwindale Brew Yard, a subsidiary of Pabst.

In January 2020, Molson Coors announced that it would cease production at the 40-year-old facility by September of 2020. Pabst had the option to purchase the brewery for $150 million per a previously negotiated settlement agreement.

Adam Sher, Irwindale Brew Yard President said: “We are pleased to complete the acquisition of the Irwindale Brewery property. We are continuing to conduct our feasibility study to determine whether there is a path to reopen and operate the brewery at a later date and are committed to choosing a path forward that is in the best interest of all our stakeholders.”

“The sale of the Irwindale facility allows us to streamline our operations for greater efficiency across our network and further strengthen our liquidity,” said Molson Coors Chief Financial Officer, Tracey Joubert. Molson Coors has already transitioned the production from Irwindale to its breweries in Golden, Colo., and Fort Worth, Texas.

05 November, 2020