Molson, Mexican brewery to bring southern suds into Canada
Last Updated: Wednesday, January 2, 2008 | 2:10 PM ET
CBC News
Molson said it Wednesday it has reached a deal with Mexican beer maker Grupo Modelo to import its products into Canada.
The firms said they have a formed a joint-venture company to market and distribute Modelo beer across Canada effective the start of this year. The new venture will be headquartered in Toronto and led by Robert Armstrong, previously the CEO for Modelo's office in Canada.
The companies did not disclose any financial terms with their announcement.
Molson was already importing and distributing Modelo products in Ontario, Quebec and Atlantic Canada.
Grupo Modelo, which brews Corona Extra, said it had over 62 per cent of the total Mexican domestic and export beer market at the end of 2006, and has seven brewing plants with a total production capacity of about 60 million hectolitres.
Molson is part of Molson Coors Brewing Co.
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