MillerCoors' Irwindale brewery will shut down — unless Pabst buys it [Los Angeles Times (CA)]
Molson Coors Beverage Company Molson Coors Brewing Company Class A (TAP.A)
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Source: Los Angeles Times
The MillerCoors brewery in Irwindale has fallen victim to a years-long slump in sales of light beer. Now the plant’s owner, Molson Coors Beverage Co., says it plans to close the facility — scrapping 470 jobs — by September. However, Molson Coors also said it struck an agreement with smaller rival Pabst Brewing Co. that gives Pabst the option to buy the 225-acre Irwindale facility for $150 million within the next four months. Los Angeles-based Pabst — which little more than a year ago contended that its very existence depended on the partnership in which MillerCoors brews its beers — said Tuesday that it would “evaluate this opportunity” and make a decision that’s “in the best interest of all our stakeholders.” The brewer declined to elaborate. The 40-year-old Irwindale plant, located alongside the 210 Freeway, brews several brands for Pabst in addition to Miller Lite, Coors Light, Miller High Life and other Molson Coors brands. The brewery’s 470 employees face layoffs unless there are
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