Three years after Molson Coors Brewing Co. and SABMiller PLC combined their U.S. and Puerto Rico operations into MillerCoors, the company has reached an agreement to consolidate the distribution of its brands through V. Suárez & Co., executives announced Wednesday.
The agreement concludes the long-standing arrangement the company had with Méndez & Co. in Puerto Rico. The financial terms of the agreement, which all three parties accepted, were not disclosed.
“At MillerCoors we’re pleased with the results of this negotiation and we thank Méndez & Co. for the years they dedicated to Miller,” said Javier Soler, vice president of MillerCoors in Puerto Rico. “We feel that the change and consolidation of brands into the V. Suárez system is satisfactory to all parties and allows us to consolidate our biggest brands with our main distributor on the island.”
“In the end, the three companies adjusted to the reality of the current beer market,” he said. “After a process of talks and negotiations, the three companies reached an agreement beneficial to all.”
V. Suárez will now take over the distribution of the Miller Genuine Draft, Miller Lite and Milwaukee’s Best beer brands.
MillerCoors is the second largest brewer in the U.S., and is the result of a corporate marriage between the two companies consummated in July 2008. In Puerto Rico, the company manages a portfolio that includes the aforementioned brands, plus Coors Light, Keystone V9, Peroni, MGD 64, Foster’s and Blue Moon.