Nov 28, 2017, 11:00 ET
MOLSON COORS CANADA HAS SUBMITTED AN OFFER TO ACQUIRE A NEW SITE IN LONGUEUIL, BEGINS DISCUSSIONS WITH CITY OF MONTREAL TO REDEVELOP ITS HISTORIC NOTRE-DAME STREET SITE TOGETHER
MONTRÉAL, Nov. 28, 2017 /CNW Telbec/ - Founded in Montréal in 1786, Molson is now embarking on a new era in its history, moving forward with a vast project to modernize its operations in the Greater Montreal area. Today, Molson Coors Canada has submitted an offer to purchase land in Longueuil and has initiated conversations with the City of Montreal to create a historic legacy at its original Notre-Dame Street location.
"As North America's oldest brewer, our roots will always be in Montreal. Our 230-year history is a great source of pride for our company and our employees. All of us at Molson Coors are incredibly excited about this iconic investment in both our past and our future." says Frederic Landtmeters, President and Chief Executive Officer of Molson Coors Canada. "As we look to our next 230 years, we need to make substantial investments in our people and our operations. Today's decision to move forward will enable us to stay competitive in an evolving market, we are ready to move forward with this vision."
Following a rigorous process initiated in 2015, Molson Coors Canada reviewed numerous options on the future location of its new brewery and distribution operations. While looking to the future, Molson Coors is also committed to the historic origins of the company. This was a very important component of the multi-year, multi-million dollar project that will create an economic halo in the Greater Montreal area. Molson confirmed today that it has submitted a purchase offer to the City of Longueuil for the acquisition of a piece of land in Saint-Hubert borough. This offer remains subject to acceptance by municipal authorities. The site's characteristics, subject to due diligence, meet the essential criteria for modern brewing operations.
"As noted previously, the original Notre-Dame Street facilities are no longer suited to extensive modernization of our equipment and processes," Mr. Landtmeters says. "Our intention is to build a modern high performance brewery fit for Canada while relying on the world-class talent and expertise found here at home in Quebec."
New opportunities for the historic Molson site on Notre-Dame Street
This new investment also opens the way for discussions around an urban development project on the historic site on the banks of the St. Lawrence River. Molson Coors plans to ensure harmonious development and to promote a smooth transition while the entire area undergoes a major renewal. It is still very early in these discussions, but there is no doubt that Montréal's iconic brewery and historic Molson site remain an invaluable legacy for the city and for Molson Coors.
About Molson Coors
With a story that starts in 1774, Molson Coors has spent centuries defining brewing greatness. As one of the largest global brewers, Molson Coors works to deliver extraordinary brands that delight the world's beer drinkers. From Coors Light, Miller Lite, Carling, Staropramen and Sharp's Doom Bar to Leinenkugel's Summer Shandy, Blue Moon Belgian White, Pilsner Urquell, Creemore Springs Premium Lager and Smith & Forge Hard Cider, Molson Coors offers a beer for every beer lover. Molson Coors operates through Molson Coors Canada, MillerCoors, Molson Coors Europe and Molson Coors International. The company is not only committed to brewing extraordinary beers, but also running a business focused on respect for its employees, communities and drinkers, which means corporate responsibility and accountability right from the start. It has been listed on the Dow Jones Sustainability North American Index for the past seven years. To learn more about Molson Coors Brewing Company, visit molsoncoors.com, ourbeerprint.com or on Twitter through @MolsonCoors.
This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws. Generally, the words "aims," "believe," "expect," "intend," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historic in nature. Forward-looking statements include those relating to expectations regarding the location and construction of new brewery and distribution operations in the Greater Montreal area and expectations regarding uses or development of the historic Molson site on Notre-Dame Street. Although Molson Coors believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from Molson Coors' projections and expectations are disclosed in Molson Coors' filings with the SEC. These factors include, among others, health of the beer industry and our brands in our markets; economic conditions in our markets; stock market and commodities performance; consumer demand; global economic conditions; changes in laws and regulations; regulatory approvals; force majeure events; future financial and operating performance within and related to the industry; and other risks discussed in our filings with the SEC . All forward-looking statements in this Press Release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise
SOURCE Molson Coors Canada
For further information: François Lefebvre, Director, Corporate Affairs, Molson Coors Canada, 514 529-8583, [email protected]
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