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Molson Coors sees rise in profits due to craft and premium beers: Report

Molson Coors
Posted at 2:03 PM, Oct 28, 2021
and last updated 2021-10-28 15:04:05-04

MILWAUKEE — Chicago-based Molson Coors Beverage Company saw a 2.5 percent rise in net sales this quarter, in part thanks to sales of craft and premium brands of beer.

Our partners at the Milwaukee Business Journal report the company's above premium portfolio surpassed 25% of brand volume net sales revenue. That's the first time those numbers have risen that high since they announced a revitalization effort in 2019.

Above premium brews include their craft beer line, like Blue Moon and Leinenkugel's.

Net sales for the quarter were $2.82 billion, compared with $2.75 billion for the third quarter of 2020, the BizJournal reports.

The company adds it has sold almost 2 million cases of nonalcoholic products for the first time in the company's history, according to MBJ.

"In spite of a difficult environment, global supply chain challenges and significant inflation in the third quarter, Coors Light is growing share of the U.S. beer category, we are premiumizing our portfolio, and we are driving scale beyond the beer aisle," said CEO of Molson Coors, Gavin Hattersley.

Molson Coors continues to operate a large brewing facility in Milwaukee.

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