🍻 Just How Sticky Were Molson Coors' Gains?

How sticky were Molson Coors’ gains following last year’s Bud Light boycott? And did the shelf space gains ever materialize? Brewbound Insiders are getting all of the details from the company’s Q2 earnings report. Managing editor Jess Infante has you covered.

Insiders are also:

• Reading details of craft-focused chain World of Beer’s bankruptcy filing;
• Getting the scoop on a craft-on-craft deal in California;
• Finding out more about Athletic’s UK expansion plans and Arsenal F.C. partnership;
• Watching the first Bud Light NFL ad of the season;
• And reviewing an executive shuffle at Andrews Distributing.

Insiders also have access to the Brewbound Newsletter Archive, including previous newsletter-exclusive Insider content.

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Or, be in the know on all food and beverage news from Brewbound, BevNET and NOSH with Insider All Access.

Deschutes Founder/Owner Gary Fish said “For the last 35 years, Black Butte Porter has been the best-selling porter in the nation and Briess has been key to that success”.  We couldn’t agree more. Click to hear Deschutes’ story. Learn more

As it lapped the gains made in the wake of the Bud Light boycott last year, Molson Coors recorded declines in volume and net sales during the second quarter of 2024. However, company leadership was unshaken.

In the U.S., Molson Coors posted depletions (sales to retailers) declines of -7.8%, outpacing the rest of the Americas division (-7.3%). Shipments (sales to wholesalers) declined -5.6%, in part due to the winding down of Molson Coors’ longstanding contract brewing relationship with Pabst, which is set to expire at the end of this year. 

The share gains made last year by Molson Coors’ flagships brands (Miller Lite, Coors Light, Coors Banquet) appear to be somewhat sticky. Although the trio’s share collectively declined by half a point in Q2 year-over-year (YoY), they still have two more share percentage points than they did in Q2 2022, Hattersley said.

Hattersley said: “This means that we retained approximately 80% of our peak share gains on our core power brands.”

Insiders can read more about the performance of Miller Lite, Coors Light and Blue Moon, as well as a change in the company’s production of Italian brand Peroni. 

Citing “considerable distress” in the restaurant industry, the parent company of craft-centric on-premise chain World of Beer has filed for Chapter 11 bankruptcy protection. 

WOB Holdings and 11 affiliates, some of which have already closed, filed a petition in the U.S. Bankruptcy Court for the Middle District of Florida’s Tampa Division on August 2.

The company owes $25.6 million across two loans to secured creditor Synovus Bank, which will take first priority in repayment. World of Beer’s collateral to Synovus “is significantly less than the amount of the debt,” according to a joint Chapter 11 case management summary submitted to the court.

Insiders can read more about World of Beer’s ill-fated expansion plans and broader on-premise trends. 

Calicraft has acquired the assets of Heretic Brewery and Distillery in Fairfield, California. Finance details of the transaction, which closed on August 5, were not disclosed.

Walnut Creek, California-based Calicraft called the deal for Heretic “an important milestone” for the company, with the addition of a successful taproom operation, an expanded footprint, a complementary portfolio and added production capacity.

The 14-year-old Heretic brand will continue on, as well as its taproom. 

Insiders can read more about the deal. 

How is beer doing at the halfway point of 2024? Brewbound reporter Zoe Licata shares highlights from not one, but two mid-year beer reports. Zoe breaks down the Brewers Association’s mid-year craft report, as well as a total beer overview from the National Beer Wholesalers Association and Fintech halfway through 2024. 

Plus, Zoe and Brewbound editor Justin Kendall discuss the latest earnings reports from Boston Beer and Tilray Brands, including nuggets on Twisted Tea and Truly’s hold on Boston’s portfolio and improvements in Shock Top’s trends.

Justin also relays his experience on the Voodoo Ranger pirate ship and spotting Stone Brewing co-founder Greg Koch’s graphic novel at San Diego Comic-Con.

Listen here or on your preferred podcast platform.

The Brewbound Live Pitch Slam returns to the Brewbound Live business conference on December 11 + 12 in Marina del Rey, California. The annual competition provides an opportunity for startups in beer and beverage-alcohol to pitch their product, generate industry awareness, and open the door for new partnerships.

How It Works:

Emerging beer category brands will provide attendees a look into the future of the industry. The competition kicks off on Day 1 of Brewbound Live with 12 semifinalists presenting rapid fire pitches to a panel of expert judges. Six brands will advance to the final round, taking place on Day 2. The judges will then decide who takes home the winning title and a Brewbound advertising package valued at $10,000.

Who’s Watching:

Brewbound Live attendees watch in-person while industry experts tune into the free livestream on Brewbound.com. Pitching in the competition allows you to reach thousands of investors, retailers, suppliers, service providers, and fellow brewery leaders looking to see what’s next in the world of beer. Past winners include Sunboy, Funkytown Brewery, Lunar Hard Seltzer, Crowns & Hops, Willie’s Superbrew, Novo Brazil, Border X Brewing, and Wynwood Brewing Company. Check out a past competition to see what it takes to win.

Beyond the Pitch:

Following their on-stage presentations at the Brewbound Live Pitch Slam, participants have the opportunity to form connections with industry decision makers. The competition opens the door for deeper, more meaningful conversations that extend beyond introductions.

How to Apply:

Startups producing beer, non-alc beer, cider, hard seltzer, hard kombucha, hard tea, hard coffee, and other malt/wine-based alcoholic beverages are invited to apply now. There is no cost to participate in the competition. The application deadline is September 30.

Apply to Participate in the Brewbound Live Pitch Slam >>

To extend your presence beyond attending, view our Brewbound Live sponsorship opportunities.