Molson Coors Brewing Co., Denver, finalized its previously announced transaction to establish a joint venture with the Hebei Si’hai Beer Co. of China through a purchase a 51 percent controlling interest in the company. Now known as the Molson Coors Si’hai Brewing Co., the company will have direct control over the Si’hai brewing operations, including its contract brewing business, and provide opportunities to expand the sales and distribution of emerging brands, such as Coors Light and regional Si’hai beers.
“As a leading global brewer, Molson Coors is proud to combine centuries of family brewing heritage and pioneering spirit with a trusted, local brewer such as Si’hai,” said Kandy Anand, president of Molson Coors International, in a statement. “We are confident that our new joint venture with Si’hai is a stride toward even greater success in China, and together we can continue to grow both of our brands through a commitment to world-class brewing in the world’s largest beer market.”
Molson Coors entered the Chinese market with Coors Light in 2003 and has grown an average of 30 percent each year. The brand is now available in more than 40 cities across China and is currently the third-largest super premium brand sold in high-end bars and night clubs across China.