Molson Coors to shut Franciscan Well brewery in Ireland [Yahoo! Finance]
Molson Coors Beverage Company Class B (TAP)
Last molson coors beverage company class b earnings: 4/30 07:00 am
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ir.molsoncoors.com/overview/default.aspx
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Source: Yahoo! Finance
According to a statement from the US giant, it will stop producing the Franciscan Well brands “early in the new year”. The Franciscan Well brewery closure is set to impact 15 employees. "Unfortunately, despite great work from the team, in the face of a challenging craft beer category and other economic pressures impacting our customers and consumers, it has not been possible to grow the brands to the level needed to sustain the brewery as part of our UK and Ireland production network," Molson Coors said. While the company plans to close the Cork business, it said it remains "open to conversations with interested parties about the future of the brewery and brands", the brewer added. Franciscan Well produces craft beers such as Chieftan IPA and Rebel Red Ale. The news comes as the US brewer recorded impairment charges worth almost $4bn in its most recent third quarter financial results. The impairment charges meant Molson Coors booked a third-quarter operating loss of $3.43
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