Molson Coors Finalizes $40 Million Deal for China Venture
According to the Associated Press, Molson Coors Brewing Co. has completed its $40 million agreement to buy a majority, controlling interest in Hebei Si''hai Beer Co. in China. The move announced in May lets Molson expand distribution of its flagship Coors Light brand. The new Molson Coors Si''hai Brewing Co. has direct control over Si''hai brewing operations, including contract business and will expand sales and distribution of brands such as Coors Light and of regional Si''hai beers. Hebei Si''ha, which was founded in 2003, is based in Chengde. Coors Light entered China in 2003 and is now sold in more than 40 cities.