Canada & USA: Molson Coors settles lawsuit with Miller
Molson Coors Brewing Co. has settled a lawsuit with the Miller Brewing Co., according to its Molson Canada division, San Antonio Business Journal published March 22.
The 2005 suit related to the making, marketing and distribution of Miller brands in Canada. Miller Brewing is part of London-based SABMiller plc, the world's second-largest brewer behind Anheuser-Busch Cos. of St. Louis.
Based in Denver and Montreal, Molson Coors also is one of the world's largest beer makers. The company produces the Molson, Coors, Carling and Keystone brands.
Details of the settlement "remain confidential for competitive reasons," Molson Canada said in a statement issued Wednesday.
Miller sued Molson Coors in December 2005 in Wisconsin federal court over a licensing agreement that made Molson Canada the sole distributor of Miller products in Canada. Miller sought damages for U.S. and Canadian antitrust violations, as well as violations of the agreement's confidentiality provisions. Molson Coors worked to keep the original licensing agreement in force.
Before Adolph Coors Co. and Molson Inc. merged in early 2005, brewing-industry analysts thought it was likely that Miller could buy Coors. Analysts said such a deal would help Miller stabilize its market share.
For 2006, Molson Coors more than tripled its net income of $361 million, or $4.17 per share, from the previous year. Revenue increased 4 percent to $5.84 billion.
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