Tuesday, September 15, 2020

Yuengling and Molson Coors Announce Long-Term Brewing Partnership to Expand Distribution Further West

On Tuesday morning, two of the nation's largest breweries announced a partnership that will expand the footprint of Yuengling.

D.G. Yuengling & Son, Inc., America's Oldest Brewery®, and Molson Coors Beverage Company (NYSE: TAP, TSX: TPX) have launched a long-term brewing partnership, which will bring Yuengling's beer to millions more people outside of their East Coast footprint. This partnership will allow the distribution of Yuengling beers to expand further west for the first time in history.

The joint venture between Yuengling and Molson Coors will oversee any new market expansion beyond the 191 year old brewer's existing 22 state footprint plus any future New England expansion. The partnership is expected to begin by launching in the second half of 2021 and will be governed by a board of directors, consisting evenly of Yuengling and Molson Coors family members and executives. Importantly, D.G. Yuengling & Son, Inc. remains a family-owned business and the existing company will operate separately from the joint venture with Molson Coors.

"We are excited to launch this brewing partnership with the team at Molson Coors. Like Yuengling, Molson Coors has an established commitment to quality and rich history of family brewing excellence," said Wendy Yuengling, Chief Administrative Officer and 6th generation family member, D.G. Yuengling & Son, Inc. "This partnership is a great opportunity for us to grow our distribution footprint for the long-term, while continuing to support our existing markets and the communities in which we operate." 

A virtual press conference was held Tuesday morning as part of the announcement.

The press conference was attended by  Gavin Hattersley, President and CEO of Molson Coors Beverage Company, Dick Yuengling, Jen Yuengling, Wendy Yuengling, and Cheryl Yuengling.

During a virtual press conference held Tuesday morning, Hattersley said, "this partnership will be "50/50".

When asked how long as the partnership been in the works, Wendy Yuengling said "As Yuengling as always been, it was a slow and methodic process, and has been talked about for some time.".

The Yuengling family will work closely with the iconic Coors and Molson brewing families, and the Molson Coors Beverage Company, to brew Yuengling products and expand their geographic footprint as an extension of America's Oldest Brewery. Together, Yuengling brewers will work hand-in-hand at Molson Coors' world-class brewing facilities and tap into their expertise in brewing and distribution to make the Yuengling brands more accessible to fans by opening markets the company can't currently reach.

"This is a huge growth opportunity for Yuengling, it's a huge growth opportunity for Molson Coors, and we're going to make a whole lot of Yuengling fans out west really happy," said Hattersley. "Today, three storied brewing families and their collective 18 generations of brewing excellence, have come together with one goal for the future – a future focused on growth. That is worth celebrating."

"We are excited to work with the Molson Coors' team on this partnership," said Jennifer Yuengling. "Fans can expect the same Yuengling recipes and great taste they have come to love for more than 190 years."

Cheryl Yuengling said the first beers that are expected to be released are the Yuengling Flight, Yuengling Lager, but is open to Yuengling's other beer which include Oktoberfest and the Hershey's Chocolate Porter.